L.A.'s Sports Industry Energizes Local Economic Growth
Los Angeles has long been known as a place where dreams come true. If one of L.A.'s more predominate ideas scores a big one, the National Football League (NFL) could usher into town two professional teams by the time the 2015 or 2016 football season gets underway, reports CBS Sports. The St. Louis Rams and the Oakland Raiders, which had previously called L.A. home, have been actively exploring the local sports market - one that remains robust.
According to a published study, co-sponsored by the Los Angeles Area Chamber of Commerce and the Los Angeles Sports Council, more than 18 million sports enthusiasts attended events in 2012, generating $4.1 billion for the metro area's economy. Nearly 4,000 full-time jobs were created, which represented a 27 percent increase over the last time an evaluation of this type was conducted in 2009.
A possible site for a new pro football stadium is a 60-acre parcel of land near Hollywood Park and The Forum, located about three miles east of Los Angeles International Airport, in the community of Inglewood. This swath of earth was purchased in 2013 by billionaire real estate developer and Rams owner Stan Kroenke.
Meanwhile, the Los Angeles City Council has given Anschutz Entertainment Group (AEG), the firm that owns and operates the Staples Center, until April, 2015, to find a team for its proposed downtown NFL arena. AEG predicts its shovel-ready plan, called Farmers Field, will bring into reality 2,660 temporary construction jobs and more than 6,000 full-time spots in operations-related positions during its planned stadium's first year of existence.
AEG's six-month extension has conjured up renewed enthusiasm about the NFL's possible return to L.A. for the first time since the Rams and Raiders packed their bags for different pastures after the 1994 season. A move by either club will need the approval of two-thirds of the league's 32 owners.
With a track record that proves L.A.'s sports industry energizes economic growth and employment progress, Tinseltown stands ready to welcome back its prodigal son, whether it is the Rams, Raiders, or both.
Sharon Raiford Bush is an award-winning journalist who covers topics of social interest in greater Los Angeles. Some news articles she has authored have been archived by the Smithsonian Institution in Washington, DC. Sharon also contributes to Examiner.com.
