Renovated Ryan Field To Generate More Than $1.2B For Evanston: Study

EVANSTON, IL — A renovated Ryan Field could bring benefits to Northwestern’s football team but will also generate more than $1 billion for the Evanston community by 2031, according to a new study released last week.

A new independent economic impact study commissioned by the university showed that the City of Evanston will benefit from the renovated football stadium, which is expected to create opportunities for concerts and other events. The study showed that the project will generate nearly $1.2 billion for the city and more than $659 million in the construction phase alone, the university reported last week.

The renovation project is being completely funded from private money and will require no taxpayer dollars, the university has reported. In the economic study, Tripp Umbach — a national consulting firm retained by Northwestern University, found that the Evanston community will benefit financially in several ways.

The university has not released financial details of the renovation project, but reports have indicated the stadium project could cost up to $800 million. Much of the funding will come from a $480 million given by Northwestern Patrick and Shirley Ryan, the school announced earlier this year.

The study said that the revenue coming to Evanston from home football games at Ryan Field will jump from $43.7 million per year to $52.2 million per year by 2031.

The report said that in addition to the income from six or seven football games per year, the analysis is based on the assumption of 10 to 12 concerts per year and a small number of other ticketed, amateur events. These will contribute $36.1 million in new annual economic benefits to Evanston by 2031, a news release said.

A message sent by Patch seeking comment from city officials about the release of the report was not immediately returned on Monday.

The consulting firm also found that direct tax revenue to the City of Evanston will grow to $5 million annually by 2031 compared to the current tax revenue of $1.4 million per year. A news release said that these figures are in addition to indirect taxes generated through local spending (restaurants, retail, hotels, shopping) drawn from stadium-based events.

The rebuild will create nearly 3,000 jobs in the region, including a target of 35 percent dedicated to minority-owned and women-owned businesses, with priority given to businesses and individuals located in Evanston, the news release said.

“Our numbers show that rebuilding the stadium provides powerful possibilities that greatly enhance an already vibrant, thriving community,” Paul Umbach, the founder and president of Tripp Umbach, said in a news release. “Our study shows that the stadium will bring significant tax revenue to Evanston from visitors to the community, thereby allowing the City to invest in civic improvements, public safety, and quality of life.”

The university released plans for the stadium earlier this fall. Based on community input, the new Ryan Field will include a smaller capacity that will be reduced by at least 12,000 seats from its current capacity of 47,000 seats. The renovated venue will also feature a state-of-the-art canopy to address noise and light, an underground loading and service dock, outdoor community plazas offering new gathering places, and extensive landscaping buffers around the perimeter.

“Northwestern greatly values our relationship with all of our neighbors and sees this amazing, privately-funded project as a big win for everyone,” Dave Davis, executive director of Neighborhood and Community Relations for Northwestern said in the release. “We will finally have a state-of-the-art venue more befitting of Northwestern’s Big Ten status for athletes and fans alike, and the City of Evanston will receive a beautiful community asset along with an enormous economic boost through increased direct and indirect tax revenues, job creation and local partnership opportunities."