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Study shows Van Andel Arena, DeVos Place, DeVos Performance Hall had $82M economic impact

van andel arena .jpeg
Posted at 1:37 PM, Jun 04, 2021
and last updated 2021-06-04 13:37:50-04

GRAND RAPIDS, Mich. — An economic impact study released Friday found that Van Andel Arena, DeVos Place and DeVos Performance Hall generated more than $82 million in local economic impact and 1,265 full- and part-time jobs throughout the 2018-19 fiscal year.

That was the most recent fiscal year before the COVID-19 pandemic hit.

The analysis was conducted by the Michigan Sport Consulting Group at the request of the Grand Rapids-Kent County Convention/Arena Authority, a seven-member board that oversees the three venues, according to a news release.

A study for the 2010-22 fiscal year found the economic impact of the three venues to be more than $58 million, showing a significant increase since then.

Ticketing, employment and operations data provided by the venues were used in conjunction with multipliers generated and approved by the Bureau of Economic Activity to calculate direct and indirect impacts generated by the venues’ operations.

The study also considered property values within a roughly 0.35-mile radius of each venue to address the social impact the facilities have on the surrounding community.

“The CAA serves as an economic development tool for Kent County and Grand Rapids and takes its role seriously,” CAA Chairman Steve Heacock said in a statement. “The venues play an important role in bringing visitors to West Michigan which, in turn, encourages economic growth. It’s crucial to use measurable data to quantify their impact on our community and I’m pleased that the results of the study demonstrate that our facilities continue to be a driving force in the local economy. We know that getting back to business as we reactivate our venues will be key to the post-pandemic recovery of Grand Rapids and Kent County.”

Read the full report here.