Minnesota bill aims to capture lost $430M in major sporting events revenue
Grand Casino Arena upgrades: Gov. Walz on talks
Gov. Tim Walz isn't optimistic on the status of funding to pay for a proposed $600 million renovation at Grand Casino Arena in St. Paul. The plan would seek $200 million in state funds. The governor says he supports the plan but says there doesn't appear to be an appetite for it among lawmakers, calling it a "tough lift."
ST. PAUL, Minn. (FOX 9) - Minnesota is looking to boost its chances of landing more big-name sporting events with a new plan at the Capitol.
Minnesota’s recent wins and losses in hosting major events
What we know:
Minnesota has seen major success hosting sporting events like the World Junior Hockey Championships, which brought an estimated $75 million in spending to the Twin Cities. Hotels, restaurants and retailers near Grand Casino Arena in St. Paul and 3M Arena at Mariucci in Minneapolis saw a big boost from these visitors.
The state has also recently hosted the Big 10 basketball championships and the U.S. Olympic gymnastics trials. U.S. Bank Stadium is set to host WWE Summer Slam in August. Minnesota Sports and Events, the organization behind many of these wins, is already thinking ahead to even bigger possibilities.
"We're looking at the Women's FIFA World Cup, the NFL draft, Women's Rugby World Cup, U.S. Figure Skating Championships, among many other events," John Klinkenberg, with Minnesota Sports and Events, told FOX 9.
Despite the successes, Minnesota has missed out on other big opportunities.
The Olympic gymnastics trials will not return in 2028 and USA Hockey may not bring back the junior championships. Organizers say one key detail has cost the state about $430 million in lost revenue from major sporting events.
"We have the facilities. We have the hotels. We have the restaurants. We have the retail. I mean U.S. Bank Stadium is one of the best stadiums in the country. In fact, one of the best stadiums in the world. So we have the facilities here. We just don't have that dedicated source of funding to bid on more of these events," Sen. Jeremy Miller, a Republican from Winona, said.
Local perspective:
Sen. Miller and Rep. Matt Norris, a Democrat from Blaine, are part of a bipartisan group working to keep Minnesota competitive with other Midwest cities like Indianapolis. Their bill would take the extra state sales tax revenue generated during these events and put it into an account for Minnesota Sports and Events to use in bids for future events.
"It's kind of a self-propelling way of making sure that we're boosting Minnesota's economy," said Norris.
The bill has already passed the Senate taxes committee and is scheduled for a House hearing next week. Supporters hope this new approach will help Minnesota land even more big events and the economic benefits that come with them.
The state’s recent track record shows both the potential and the challenges of competing for national and international sporting events. With the right funding, lawmakers believe Minnesota could see even more wins in the years ahead.