Aside from consistently being named one of the best cities in the United States to invest in real estate, Tampa Bay is also experiencing an economic boom in a variety of industries, making it the perfect place to host historic sporting events. So, it’s no wonder Tampa has been named to host the 2021 Super Bowl. As such, local businesses and real estate investors are set again to profit from Tampa’s popularity.
Why Tampa?
It wasn’t too long ago that Tampa Bay hosted the 2009 Super Bowl, so why was the city awarded another one so soon? The answer is simple; Los Angeles wasn’t ready. Due to a delay in construction of their new stadium in L.A., the NFL was left searching for a new venue. As Tampa Bay has a history of successful Super Bowls (not to mention the $150 million renovation of Raymond James Stadium), the NFL decided to award Tampa Bay its fifth Super Bowl.
“Being awarded Super Bowl 2021 is a testament to our city’s ability to shine on the international stage,” Mayor Bob Buckhorn said in a statement. “Tampa does big events as well as anybody in the world and once again we will rise to the occasion. We look forward to working to meet the host requirements over the weeks ahead. Thank you to the NFL and network of owners who voted unanimously on this move. We will not disappoint.”
Related: Bill Gates and Jeff Vinik Are Investing Billions in Tampa
Economic Impact
Unlike the Olympics, where countries often lose money, events like the Super Bowl are generally very positive for the host cities, since they don’t have to completely overhaul their infrastructure.
Although the tax hike in 1996 for a new stadium was quite controversial, many believe that the Raymond James Stadium has paid for itself with the revenue it’s brought into the metro area, such as the revenue generated hosting multiple Super Bowls.
“Taxpayers are getting a good return on the investment that they decided to make 20 years ago,” former Hillsborough County Commissioner Ed Turanchik said, quoted by Saint Peters Blog. It’s possible that Tampa Bay would never have received any of the Super Bowls had taxpayers not been willing to invest in the stadium.
Now as Tampa Bay begins investing in the upcoming Super Bowl, many government and civic leaders believe the economic impact will be long lasting, as jobs are added and millions of dollars come into the community.
Real Estate Investors Profit from National Sporting Events
Real estate investors have profited for years by providing Tampa Bay residents and vacationers with homes suited to meet their needs.
Local sports teams and national sporting events are just some of the many attractions contributing to the overall economic success of the Tampa Bay metro community, pouring millions into the economy for real estate development and providing high-paying jobs.
World sporting events, like the Super Bowl, attract people and businesses from all over the world. And for the people who love the overall environment Tampa Bay offers, some decide to call Tampa home and even relocate their business.
So as metro Tampa Bay continues to prosper economically, real estate investors prosper by providing homes, vacation property, and commercial property to this growing community.
Related: 5 Reasons Tampa is a Top City for Real Estate Investing
Video
In this video, Jorge and Rafi, along with guest Sam Ally, explore the importance of attractions, like professional sports teams and national sporting events.
Graystone Investment Group
Graystone Investment Group is an experienced real estate wholesaler in Tampa Bay. We serve clients who flip homes in as little as 30 days, as well as clients who hold high cash flowing rental properties.
Unlike other wholesaling groups, we provide clients with a turnkey process at no extra charge. We find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years.
To learn more about profitable real estate investments in the Tampa Bay area, fill out our Investor Profile or contact us direct.
Image Credit: Wikipedia/Bernard Gagnon
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