Hosting the Super Bowl has a large economic impact on the host city. An influx of tourism generates big business for hotels and restaurants, making it a premiere event state economies vie for each year. It's also an event that takes an immense amount of planning and investment, something New Jersey is learning the hard way.
According to a report from NJ.com the 2014 Super Bowl is set to cost the state $70 million. The total gains expected are unknown, but the committee responsible to organizing the event reported $7.2 million in sponsorship revenue and another $52.8 million in deferred income on a 2012 tax return filed in November.
Committee spokesperson Alice McGillion is pointing the finger at high state costs as one reason this Super Bowl is poised to be the most expensive in league history.
"This region is expensive, and this game is the first of its kind - the first game hosted by two states and two teams, and to take place in an open-air venue in a cold-weather city," remarked McGillion.
She said the committee knew it was going to be faced with costs "which from the beginning we have said would be very high."
It's unclear why the Super Bowl would be made more expensive to host due to the region's weather, or being co-hosted -- but part of the cost incurred is a total of $2.3 million in executive salaries that were paid in 2012, according to the report. More than $800,000 combined was spent on consulting and legal fees.