When Minneapolis hosts Super Bowl LII in February, local leaders know the world’s attention won’t just be on Sunday’s game.
They’re hoping the Twin Cities economy will also come away a winner, saying a week with thousands of influential visitors is a perfect chance to highlight the region’s booming business climate.
“Sports gives us the lever to showcase our companies and our cities,” said Michael Langley, CEO of Greater MSP, which promotes economic development in the Twin Cities. “We know this is more than an event. It’s a way to show our culture, and benefit our community both economically and socially.”
One of the city’s biggest industries is technology. Companies like St Jude, Medtronic and Boston Scientific have long been part of the state’s economic foundation, and now newcomers are building on it — including in sports technology.
Sportradar is based in Minneapolis. And NoSweat, Tempo Sports Intelligence and Fancam are just some of the sports tech startups finding success in the Twin Cities.
Another, Prevent Biometrics, which is headquartered in Edina, is focused on an issue many Super Bowl fans are closely watching: concussions. With $9 million raised in two rounds of financing, the company has developed a mouthguard that continuously monitors athletes, records every head impact, and meet the NFL’s validation standard for head impact.
“Minnesota is quite an innovation hub,” Langley said. “And sports technology is one of the areas where we have an inside track.”
The state hopes that grows with the opening next year of the Minnesota Vikings’ new headquarters and practice facility, which will house a tech accelerator program. Its 200-acre campus will give space to startups, and the team says it will invest in some of the projects, which may not all be sports-related. It says it also hopes to involve the area’s 18 Fortune 500 companies, several of which have their own in-house programs to develop and nurture innovation.
With those companies — including retail (Target, Best Buy), finance (Ameriprise, U.S. Bancorp, Thrivent Financial), and food (General Mills, SuperValu, Land O’Lakes) — Langley said the area is a “great breeding ground” for new business, one of many advantages he said come with launching in a city known for developing — and keeping — talent.
“Startup capital goes farther here than on the coasts,” Langley said. “We have a lot of great stories to tell in food, agriculture, technology and other industries.”
Those stories may surprise visitors who haven’t been to Minneapolis since it last hosted the Super Bowl in 1992. Its year-old, state-of-the-art U.S. Bank Stadium is twice the size of the former Metrodome. The region in the last 25 years has also doubled its hotel rooms and seen population growth of about a million people, Langley said.
Greater MSP hopes Super Bowl week will add to that growth, saying it expects $407 million of direct economic impact, including $285 million of consumer spending.
It also hopes Super Bowl visitors — including 5,000 journalists — will be back. Langley said it expects a 20 percent jump in hotel stays and restaurant visits in the next one to two years, an “echo” effect of Super Bowl week.
“Enhancing our city and state brand is priceless,” he said.
That echo may be even bigger if the NFC North division-leading Vikings become contenders, especially since the team hasn’t played in a Super Bowl since the 1970s.
“With the Vikings relevant this year it’s pulled people together,” Langley said. “It’s brought even more focus and enthusiasm to our efforts.”