The Chase Center, in partnership with Accenture, released an economic impact report Monday that estimates the facility has generated $4.2 billion for the San Francisco economy since it opened on September 6, 2019.
The Chase Center generated $2.9 billion in direct consumption, over $1 billion in recycling, and $270 million in intangibles.
This figure includes more than $2.9 billion in direct spending and more than $1 billion in recycling. About 270 million accounts for financial contributions (tax) and intangibles.
In a press release from the forum, the study was created in celebration of the five years of the Chase Center. The job is to measure the economic impact from more than 4.8 million fans who attend more than 400 events across sports, music, comedy, theater, family entertainment, and more.
Direct economic activity and impact on the San Francisco community in several key categories are measured in the report, including direct spending, indirect spending, resulting outcomes, and public sector outcomes.
In addition, the report found that the Chase Center averaged more than $1 billion in economic impact over the past five years, excluding the effects of the COVID-19 pandemic.
The numbers in the report represent a combined five-year total from July 2019 to June 2024. Of course, the report uses the July to June fiscal year to match the NBA seasons.
The economic impact report focuses on five key areas
In addition to broad economic impact, the report focuses on five key categories: event type, tourism, jobs and prosperity, community voice, and community intangibles.
According to the news release, highlights include:
- While the impact is primarily driven by NBA games, the economic impact surrounding Chase Center concerts, Thrive City initiatives and private events in the area grew more than 131%, from $160 million to $370 million, over the past two fiscal years.
- Attendees spent an average of $713 (before tax) outside the Chase Center by category. This includes ground transportation, food and beverage, retail, entertainment, and lodging. These five generate a total of $66 in tax benefits and an additional $312 in economic spending.
- A total of 3,334 equivalent jobs are generated annually due to fan impact. Of that amount, 1,911 are employed by the Chase Center and 1,432 are estimated to be in local communities. Operations outside the Chase Center generate $71 million in revenue.
- Local businesses in all food and beverage, retail, entertainment, and lodging areas within two miles of the Chase Center average a 15-40% increase in sales on event days.
- The Chase Center also impacts the San Francisco community through philanthropy and other intangibles. The site offers food donations, volunteer hours, sustainability efforts, and more.
The report is not intended to measure the benefits of incremental tourism
Additionally, taxes are estimates based on consumer spending and publicly available tax rates. The report is not intended to measure the benefits of incremental tourism. All expenses for attendees are included. Since the effects of switching can be calculated, the maximum consumption of the consumer is given.
The NBA's regular seasons and playoff seasons are highly influential. However, “concerts, a booming city, and private events have grown by more than 131% in two years,” the report reads on page four.
Upcoming concerts include Nicki Minaj on Sept. 23 and Kacey Musgraves on Sept. 24. The Golden State Warriors will return to the Chase Center for a preseason game against the Sacramento Kings on Oct. 11.
The Chase Center will host the NBA All-Star Weekend in 2025
In fact, other upcoming events at the Chase Center include NBA All-Star 2025. The 74th NBA All-Star Game is scheduled to take place at the stadium on Sunday, Feb. 16, 2025.
In addition, the Chase Center will host the 2025 Division I Men's Basketball Championship West Regionals in March 2025 and the Laver Cup in September 2025.
In May of 2025, the Golden State Valkyries will kick off their first season at the Chase Center as well.
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