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2015 Phoenix Superbowl Economic Impact, Dennis Hoffman, Professor W.P. Carey School of Business, ASU

Posted By Gabriel Salcido, Arizona Small Business Association, Monday, March 31, 2014
Updated: Thursday, July 31, 2014



In 2008, when Phoenix last hosted the Super Bowl, $500 million was reportedly brought in and it was the beginning of the recession.  In 2015, when Phoenix is hosting the Super Bowl again, Dennis Hoffman, Professor of Economics at the W.P. Carey School of Business, expects an increase in that number, attributing it to the fact that more people might be inclined to travel at that point and that Super Bowl attendees are some of the most well to do people that travel, so they report considerable amounts of spending at hotels, entertainment and venues around the stadium and in the valley, with some doing some traveling throughout the state as well. 

Hoffman says that if you want to compare the southern venues and people wanting to get out of cold weather, there is an advantage of the Indianapolis or Detroit venues and it gives the opportunity for millions of people to see these blue skies and wide-open vistas, to get people thinking that it might be a great place to visit or do business.

The confluence of Fiesta Bowl activities, which Phoenix will also be hosting in 2015, all the way through the Super Bowl, is going to make for a very lucrative time for businesses in the state.  Hoffman thinks the real benefit is in quantifying the long-term benefit of the imagery that is put into people's minds when they see these events broadcast to millions of people.

Dennis Hoffman is a Professor of Economics at the W.P Carey School of Business at Arizona State University.  For more information on him, click here.  Hoffman spoke with ASBA, Arizona Business News, a featured network of Sequence Media Group.

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How a Raise in Minimum Wage Affects Small Businesses, With Michael Alter, President of SurePayroll

Posted By Gabriel Salcido, Arizona Small Business Association, Monday, March 31, 2014
Updated: Thursday, July 31, 2014



For small businesses, a higher minimum wage can be a material piece of someone's business, says Michael Alter, President of SurePayroll, as wages tend to be the largest single expense and as you increase them, the money has to come from somewhere.

The challenge here is that it's very hard to make generalizations about which cases work and which don't.  A lot of businesses and a lot of states have minimum wages that are higher than the national or federal minimum wage.  When looking at one individual business, you have see what they can afford and what are the implications of their business in terms of how important it is to retain certain people because they have a certain set of skills that are harder to find, how much profit is in that business and what is their ability to pay that piece.  The challenge for Alter has always been, when talking about federal minimum wage, is that it's a "broad-based concept that really needs to be addressed at an individual business level."  What one needs as a living wage in one part of the country, may be very different in other parts of the country and if we set one level across, it doesn't necessarily make a lot of sense, adds Alter.

We have to look at the minimum wage laws in context to all of the costs in running a small business and how they're changing over time, Alter says.

Michael Alter is President of SurePayroll.  He spoke with ASBA, Arizona Business News, a featured network of Sequence Media Group.

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