Expert: Golden 1 Center in Sacramento sets high standard for economic development efforts


Expert: Golden 1 Center in Sacramento sets high standard for economic development efforts

A decade ago, Sacramento broke ground on downtown’s Golden 1 Center, and research shows the growing impact it’s having on the local economy. The Golden 1 Center hosted 127 events in the last year, with total attendance exceeding 1.5 million people. Barry Broome of the Greater Sacramento Economic Council believes the arena’s impact has exceeded expectations, calling it the most successful sports facility in the United States.

A new report shows that the arena brings in approximately $13 million in direct taxes annually, along with hundreds of millions of dollars in broader economic impact. The arena has also provided over 2,000 jobs. On average, attendees spend $237 per event, and mid-week shows like Tuesday’s Bad Bunny concert are particularly beneficial for nearby hotels and restaurants.

This year marks the tenth anniversary of the arena’s groundbreaking, which was supported by local leaders promising to protect taxpayers. However, lease and parking revenue has been lower than forecast, leading to millions of dollars being diverted from parks and public safety to pay off the debt. Despite this, supporters argue that the overall economic impact proves the arena’s success as a valuable asset to the city.

The average attendance at regular season NBA games last year was 17,440 people, and that number is expected to increase this year. Supporters of the Golden 1 Center believe it serves as an exemplary example of economic development in Sacramento.

Leave a Reply