IE Business Daily Business news for the Inland Empire.
Acrisure Arena, the 11,000-seat sports and entertainment venue that opened in December 2022, pumped an estimated $168.5 million into the greater Palm Springs economy in 2023, according to a study.
The arena also supported 2,000 jobs during its first full year in operation, while hosting 850,400 patrons and 117 events, according to the report released June 26 by Tourism Economics, a division of Oxford Economics in England.
Home to the Coachella Valley Firebirds of the American Hockey League, Acrisure Arena “surpassed its 2023 projections in multiple key areas including annual direct spending, job creation, labor income, event attendance, the number of out-of-area event attendees and total business sales,” the report states.
Total visitor spending at the arena in 2023 was $120.6 million, well above the estimate of $108.2 million made in a 2021 forecast. Average event attendance was 7,268, topping the report’s prediction of 6,000 attendees
“We are proud of the impact Acrisure Arena has had on the Coachella Valley,” said Tim Leiweke, chairman and chief executive officer of the Oak View Group, in a statement. “Acrisure Arena has proven to be a premier destination for world-class entertainment and a powerful economic engine, driving growth and creating opportunities for local businesses and residents.”
Denver-based Oak View Group is partner in the $300 million facility. The Tourism Economics study was commissioned by Visit Greater Palm Springs, a marketing firm that promotes tourism in the Coachella Valley.
