NewsBusiness

Actions

WM Phoenix Open had statewide economic impact worth over $450M, report says

People's Open
Posted at 8:54 AM, Feb 03, 2023
and last updated 2023-02-03 13:39:24-05

PHOENIX — The 2022 WM Phoenix Open generated a $453.7 million economic impact for Arizona, according to an economic impact study conducted by Arizona State University’s Seidman Research Institute at the W.P. Carey School of Business.

The study, commissioned by The Thunderbirds — hosts of the WM Phoenix Open — reported a contribution to the state's GDP (gross domestic product) of $276.8 million and an annual employment impact of 4,290 jobs.

“We’re proud to see our once small golf tournament in the middle of the desert grow into a crucial source for economic development and growth not only in the Phoenix area, but everywhere in Arizona,” said Michael Golding, 2022 WM Phoenix Open tournament chairman and current president of Thunderbirds Charities, in a statement. “We take great pride in the positive experiences we provide our fans, and together with our corporate partners, we will continue to draw all types of visitors and businesses to the Valley.”

Read more of this story from the Business Journal.