LA businesses look for the big game to bring in the big bucks
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(NewsNation Now) — The Super Bowl is just days away, and businesses in and around Los Angeles are hoping the big game brings in some big bucks.
Hosting the Super Bowl is a dream come true for the greater Los Angeles area. Within two years of building SoFi Stadium, not only is the city hosting one of the biggest games of the year, but its own team is also playing in it.
The Super Bowl spotlight provides global exposure for the city and is a financial opportunity for the area that’s highly sought after.
Small business owners can prosper from that exposure.
They call it the city of champions, but it’s been a long time since the Lakers brought glory to Inglewood, California.
Since the team’s departure in 1999, what followed for downtown L.A. was two decades of economic decline. But changes are happening quickly.
Inglewood Mayor James T. Butts was instrumental in bringing the Rams to Los Angeles and building SoFi Stadium.
With those updates came local prosperity and the chance to host the Super Bowl for the first time since 1993.
When you factor in the 150,000 visitors staying in hotels and spending their hard-earned money, Los Angeles could haul in upward of $477 million.
In 2020, when the Super Bowl was in Miami, South Florida pocketed nearly $572 million.
“Everybody’s on board. And you know, we’re all just excited about that,” Butts said. “We are trying to build a holistic community and that includes giving people the opportunity to amass generational wealth.”
State Farm Stadium outside Phoenix is up next year, followed by the brand new Allegiant Stadium in Las Vegas in 2024.
But before that, Inglewood gets the chance to crown a champion once again.
However, not everyone in the greater Los Angeles area is pleased with the Super Bowl or with the brand-new stadium.
Several residents in Inglewood spoke to NewsNation about having to fight constant traffic issues, parking woes in their own neighborhood and even skyrocketing rent.
The mayor responded to residents’ concerns, saying it’s all a part of doing business.
