Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Industries Education Economic impact of Tech football games: $69 million

Economic impact of Tech football games: $69 million

Published April 24, 2015 by Jessica Sabbath

Virginia Tech’s home football games have a $69 million economic impact each year, according to a study conducted by the school.

The analysis found that football games’ economic impact had tripled in the past 15 years, when the previous study was done.

The study found that the biggest spending each year was on hotels ($5.9 million), dining ($5 million), gasoline ($2.9 million), retail ($2.6 million) and groceries ($2.5 million).

“An unexpected finding was the impact on real estate,” Sarah Lyon- Hill, economic development specialist in the Virginia Tech Office of Economic Development, said in a statement.   “Based on fan surveys, we estimate that as many as 4,700 properties may be owned by football fans from outside the region. And our survey of the real estate community showed that Realtors believe about half of those properties belong to owners who bought these homes with the intent to regularly attend home games.”

The study also found that:

-Almost three quarters of restaurants, hotels, and retail outlets say they experience an average 15 to 30 percent revenue bump during home-game weekends.
-Churches, local governments and small nonprofit agencies benefit season, each organization bringing in from $500 to $12,000 in parking and other fundraising activities.

In addition to analyzing the Virginia Tech Athletics budget, researchers compiled data by sending questionnaires to businesses and surveying out-of-town football fans. Season ticketholders received online surveys, complemented by in-person questioning carried out at four home-game tailgates.

The study region covered the New River and Roanoke Valleys, composed of seven counties (Giles, Pulaski, Montgomery, Roanoke, Botetourt, Franklin, and Craig) and the independent cities of Radford, Roanoke, and Salem.

Related Stories

Virginia Business logo

Hampden-Sydney receives its largest gift

Virginia Business logo

Schools will be assigned letter grades

Virginia Business logo

Virginia Tech creates sustainable-energy research initiative

Trending

13th annual Best Places to Work

Report: Air taxis could land Va. $16B in new biz by 2045

Magical moments

Morrissey’s Petersburg casino bill fails in Senate Finance

Cox expands Myers’ role to East Coast

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

13th annual Best Places to Work

Report: Air taxis could land Va. $16B in new biz by 2045

Magical moments

Morrissey’s Petersburg casino bill fails in Senate Finance

Cox expands Myers’ role to East Coast

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk