The Kansas City Chiefs have released a newly updated economic projection outlining the staggering economic impact the team will have when it moves to Kansas. Tuesday’s report noted the vast employment and revenue potential to be realised during construction and in the future as the team runs its new facilities.

At the heart of the project is a state-of-the-art, $3 billion domed stadium to be constructed in Wyandotte County. The team will construct a $300 million practice facility and headquarters in the City of Olathe, in addition to the main building. Both are massive projects, which will be complemented by $1.2 billion in ancillary private real estate development around both locations.

The economic report estimates this massive capital investment will have an astounding $1.9 billion impact on the economy in the form of indirect business to business spending, and $1.8 billion from employees. The combined economic impact of the two is expected to be an estimated $8.2 billion for the greater Kansas City region.

Regional Growth and Long-Term Community Benefits

The first construction will be a gigantic economic motor for the region. According to the report, the new complexes will create over 36,000 jobs. This growth in jobs will create $2.7 billion in wages for employees and $106 million in direct tax revenue for the State of Kansas.

The stadium and practice facilities will generate substantial annual fiscal benefits in Kansas in the future, once they are officially open in 2031. Planners expect over a million people to visit the region annually to watch NFL games, huge concerts and other special events. The annual influx will be significant for the local economy and provide a constant stream of revenue for regional hotels, restaurants, retail stores and transportation services.

Once the stadium and practice facilities officially open their doors in 2031, ongoing operations in Kansas will continue to generate significant annual fiscal benefits. Planners anticipate that more than one million visitors will travel to the area each year to attend National Football League games, major concerts, and other special events. That big wave of yearly patrons is supposed to help the local economy a lot, bringin in constant income into regional hotels, eateries, retail venues, and the whole transportation web. Honestly it’s expected to be rather beneficial, like a slow but steady pulse for the area.