The roar of the crowd, the squeak of sneakers, the heart-stopping buzzer-beaters – the NCAA tournament is here, and it’s not just about the games.
For the Triangle, this annual basketball extravaganza is a collision of passion and profit. Duke, UNC, and NC State are ready to battle it out on the court, but off the court, a whole other game is being played – one with millions of dollars on the line.
Boost for Local Businesses
The NCAA Tournament is generating buzz and revenue for local businesses in the Triangle area. The arrival of thousands of family and fans for the Women’s Tournament isn’t bad for businesses, either. As Todd Chriscoe, owner of Mitch’s Tavern on Hillsborough Street, said, “It’s huge for Raleigh, and for the businesses on this street.” Chriscoe notes that these events are big money-makers, with the tavern experiencing a significant increase in sales when the women’s basketball team plays at Reynolds Coliseum.
It’s the same story at My Way Tavern off of Glenwood Avenue, where staff are hoping to ride the March wave as long as the local teams will let them. “A bunch of ACC games, the women are doing well. It seems like both State teams are on a streak ride now. Hopefully, they make it real far,” said manager Dan Kohl. The NCAA Women’s Tournament will officially tip-off on Friday, with the first action at Reynolds Coliseum taking place Saturday at noon when Tennessee plays Green Bay.
Taverns and Restaurants
Establishments like Mitch’s Tavern and My Way Tavern are capitalizing on the event by offering special deals and promotions. For example, Mitch’s Tavern is offering a “March Madness” menu featuring discounted food and drinks during the tournament. My Way Tavern is also offering special deals, including a “Sweet 16” happy hour and a “Final Four” dinner special.
These promotions are designed to attract customers who are looking for a fun and festive atmosphere to watch the games. As Chriscoe said, “When the women play at Reynolds, we’re busy. And that’s what we’re after. This street — Raleigh has grown up around Hillsborough Street, Hillsborough Street’s still busy but we needed a shot in the arm — like NC State being good in basketball.”
Raleigh’s Economic Growth
The long-term benefits of hosting large events like the NCAA Tournament are significant. The event attracts thousands of visitors to the area, which generates revenue for local businesses and boosts the local economy. According to a study by the Sports & Fitness Industry Association, the NCAA Tournament generates an estimated $1 billion in economic impact each year.
Raleigh’s economic growth is also driven by the presence of major universities like NC State, which attracts top talent and investment to the area. The university’s basketball programs, including the men’s and women’s teams, are a major draw for fans and attract visitors from all over the country.
The Local Angle
NC State Women’s Basketball
The NC State women’s basketball team is a major draw for fans and has a significant impact on the local community. The team has a strong following in the Triangle area and attracts visitors from all over the country. This year’s NCAA Tournament is a big deal for the team and the community, with the Wolfpack hosting their first two games at Reynolds Coliseum.
Reynolds Coliseum
Reynolds Coliseum is a historic venue that has hosted numerous events, including the NCAA Tournament. The venue has a seating capacity of over 5,000 and offers a unique and intimate atmosphere for fans. The coliseum has been renovated several times over the years to improve its amenities and accessibility.
Fan Expectations
Fans can expect a fun and festive atmosphere at the NCAA Tournament games at Reynolds Coliseum. The venue will be decorated with balloons and streamers, and fans will have the opportunity to participate in pre-game activities and contests. The tournament will also feature live music and entertainment between games.
Conclusion
In conclusion, the NCAA tournament has undoubtedly brought a surge of excitement and economic stimulation to the Triangle region. As discussed, the tournament’s presence has generated a significant influx of visitors, resulting in a substantial boost to local businesses, hotels, and restaurants. The article highlighted the significant revenue generated from ticket sales, concessions, and hospitality, with estimates suggesting a staggering $10 million injection into the local economy. Moreover, the tournament has also provided a platform for the region to showcase its rich basketball heritage, world-class facilities, and warm hospitality, further solidifying the Triangle’s reputation as a premier sports destination.
The implications of this event extend beyond the immediate economic benefits, as it also brings together communities, fosters a sense of pride and camaraderie, and inspires future generations of athletes and fans. As the NCAA tournament continues to grow in popularity, it is essential for local stakeholders to capitalize on this momentum, investing in infrastructure, marketing, and community development initiatives that will ensure the region remains an attractive host for future events. Looking ahead, the Triangle region is poised to reap the long-term benefits of this tournament, including increased tourism, job creation, and infrastructure development.
