For the first time in almost three decades, the biggest event of the year – the Super Bowl – is returning to the Los Angeles area.
As a result, countless football fans are expected to flood the area over coming weeks, and businesses in the surrounding area are more than excited.
After two years of numerous COVID-19 related hurdles that have tripped up small business owners, they are preparing for the return of massive crowds, something they haven’t seen since the beginning of the pandemic.
“We are staffing up, stocking up, praying, breathing, trying to keep everybody safe, obviously we're also dealing with COVID in the midst of all of it,” Celia Ward-Wallace, co-owner of the South LA Cafe, told Yahoo Finance in an interview.
“[We’re] trying to make sure that we're ready to serve our community as well as all of the tourists that are coming to town,” she added.
Despite the recent uptick in the Omicron variant and the uncertainty that lingers around it, business owners like Ward-Wallace know that this week is a chance to claw back some of the losses the pandemic has dealt them.
“We're making sure we have a ton of our favorite cold brew. Ready to go,” Ward-Wallace said.
It will mark the eighth Super Bowl in L.A., but the first since 1993 — the longest drought in the history of the NFL championship game. The big game could give the region's businesses, hit hard by the pandemic, a much-needed economic bump.
A recent report from Microeconomics Economic Research and Consulting predicts Inglewood will see a positive economic impact of $23 million to $52 million, with $900,000 to $1.8 million in added tax revenue and an annual employment gain of 350 to 800 jobs.
On a broader scale, L.A. County stands to gain as much as $477.5 million in economic benefits, the report said.
Even so, ticket holders will be paying a hefty tab to come out West. The lowest priced Super Bowl seats run at $5,150 per ticket, including service charges, while the most expensive are $37,827 each after service charges, according to Gametime, the leading app/site for last minute tickets.
While Covid-19 cases in California have been trending downwards over the past two weeks, some businesses are expecting a significant boost in business than their normal weekend output, thanks to the sudden influx of people flooding the LA area.
“We are predicting maybe a 50% [boost in foot traffic],” Joe Ward-Wallace said.
Meanwhile, Betelehem “Betty” Woldegiorgis, owner of The Nile Bar, in Inglewood, CA, is expecting an influx of customers, reasons why she’s “triple” stocking on supplies, and hiring 15 more employees to work the big day.
Along with that, Woldegiorgis is also offering a table special – where customers can reserve a table of 4 for $250 to watch the game. This special started after football fans flooded the area for the NFC Championship Game.
"Two weeks ago on Sunday, we were very busy [we made] maybe double or triple," Woldegiorgis said.
Meanwhile, many projected new jobs are expected to be in event production and hospitality sectors – areas where the local economy were among the hardest hit by the pandemic.
The county lost almost 773,000 jobs between March and April 2020. But in recent months, hiring has picked up as the pandemic lockdowns have eased. Now, as of December 2021, the county’s unemployment rate was 6.2%.
“A big part of what we are doing in general is a commitment to our community and hiring locals and giving people a chance for advancement so that was already part of the plan, but amazing events like this are another opportunity to do that,” said Ward-Wallace.
Local businesses are also getting a leg up through the Super Bowl LVI Business Connect. The program identifies and supports minority, women, LGTBQ+ and veteran-owned small businesses through professional development, networking, and contract opportunities with the Super Bowl and beyond.
Additionally, Intuit QuickBooks and Mailchimp teamed with the Los Angeles Rams to surprise three small businesses in Los Angeles with $25,000 grants from Intuit to help them succeed and grow. Last week, South LA Cafe was one of the three small businesses that was awarded a ‘Early Start’ growth grant of $25,000 from Intuit QuickBooks.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter: @daniromerotv
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