Monday, Nov. 10, 2008 | noon
The UFC released an economic impact study today that showed that the sanctioning of MMA fighting in the state of New York would have a multimillion dollar boost on state and local economies, specifically in tax revenues and the tourism industry.
Some 36 states have regulated MMA fighting including California and Florida, but New York has not. However, legislators in Albany are considering sanctioning the sport in the Empire State when the legislative session resumes in January.
“At a time when the New York economy is in crisis, it would be a mistake for the state to miss out on the considerable revenue that our events would generate,” said Marc Ratner, UFC Vice President for Government and Regulatory Affairs.
“We are eager to bring both the excitement of our new sport as well as its major tax and tourist revenue to New York State. We look forward to being able to meet the tremendous demand that exists for our events in upstate New York as well as New York City.”
Highlights from the study conducted by HR&A Advisors found that a UFC event in New York City would generate $11.5 million in “net new” economic activity, $5.3 million in direct event spending, $1.4 million in non-lodging visitor spending, and $4.9 million in indirect/induced benefits.
An event in Buffalo would generate $5.2 million in “net new” economic activity, $1.7 million in direct event spending, $1.4 million in visitor spending and $2.1 million in indirect/induced benefits.
“It’s long past time to look into officially sanctioning this sport in New York. More than two-thirds of the states commission mixed martial arts matches,” said New York State Senator Joseph A. Griffo.
“There are significant tourist and tax revenue dollars flowing to neighboring states who are hosting these events. We need to immediately examine the potential for the sport to thrive here.”