By Zach Baru
The Boston Bruins may have won the Stanley Cup Wednesday night, but they weren't the only big winner in the city. Bringing a championship to the seventh largest media market in the country meant big economic impact for many Boston businesses. And fortunately for any sports-related business in the city, this is only the beginning.
With so much passion and excitement now being displayed for the Bruins, restaurants and bars surrounding the TD Garden will greatly benefit from the increased number of people flooding the streets in and around Causeway Street. Area businesses will see packed bars and restaurants on game nights, meaning more revenues for the local business owners, and more job opportunities for bar and restaurant staff.
The flow of pedestrian traffic in the North End shows no signs of winding down, as the Bruins had to cap their season tickets at 13,000 last season, and have again sold out of season tickets for 2011-2012. This is good news for downtown hotels which will see similar benefits to that of bars and restaurants. As the Bruins keep packing the crowds in, the potential for local businesses continues to grow.
And that growth is certainly not limited to hospitality. As the foot traffic around the arena grows, so will numbers of potential shoppers for all businesses. It's a win for the Bruins, and an even bigger win for the city.
On the other side of the spectrum, the state of Massachusetts sees its share of benefits through increased sales tax revenue. Anyone eating before, during, or after the games will pay 6.25% sales tax on meals. For any of the 1,150 cars that can fit into the TD Garden garage, the state collects 21-cents per gallon in gasoline tax if they choose to fill up. And lastly, for the remaining of the 17,565 fans per game who opt to take public transportation to the Garden. The arena is accessible to two subway lines, and four commuter rail lines, bringing in even more revenue for the state.
The bottom line is that it's not just the Bruins who are profiting from a championship, it's the entire local economy. On game nights, the TD Garden isn't the only place full of fans. The bars are packed, restaurants are filled, and businesses all around Boston are seeing the success of a hockey team flourishing the local economy.
Zach Baru can be followed on Twitter @zbaru and reached at zachbaru@gmail.com.
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