The economic impact of the 2011 Baltimore Grand Prix was “vastly smaller than the projections by the events promoter,” UMBC economics professor Dennis Coates asserts in a newly released study (pdf), coauthoed with Michael Friedman of the University of Maryland. They estimate attendee spending as closer to $25 million than the anticipated $70 million and argue, “The bottom line is that the Baltimore Grand Prix was not a game changing event.”
After appearing on the front page of the Baltimore Sun and in the Baltimore Business Journal, the story was picked up by AP and printed in the Washington Post. Additional coverage included interviews with Dennis Coates on ABC2, Fox45 and WBAL Channel 11.
Tags: Economics
