Super Bowl 2011 Economics

So the Super Bowl is set and you can't really imagine a more working class Super Bowl match-up: It's the meat packers versus the steel workers.  Not to take this too far, but the two industries have taken something of a hit in recent years with the green revolution lessening the demand for meat and American steel manufacturing not what it used to be. Calling this the "Recession Bowl" is a little bleak, but given that the State of the Union is this week where President Obama's going to talk about America's economic resurgence, maybe there's something to that. 

Where did the teams get their names anyway?

The Packers were named after the Indian Packing Company, the team's original sponsor, who required Green Bay to adopt the name, much like a Little League team.  Those were the days.  About the Indian Packing Company from Wikipedia:

The Indian Packing Company was a company that was involved in the canned meat industry that was organized in Delaware on July 22, 1919.[1] Its canned meat sold as "Council Meats." When the company was absorbed by the Illinois-based Acme Packing Company in 1921, it had facilities in Green Bay, Wisconsin, Providence, Rhode Island, Greenwood, Indiana, and Dupont, Indiana[2][3] At the time of the sale it was controlled by New England Supply Company of Providence, Rhode Island with F.P Comstock as its principal owner.[4]

Among its slogans were "A meat market on your pantry shelf" and "From the Wisconsin country to you."

The Steelers have a different name origin according to About.com:

The Pittsburgh Steelers have not always been the Steelers. Originally founded as the Pittsburgh Pirates by Arthur (Art) Joseph Rooney on July 8, 1933, the Steelers changed their name in 1940 in an attempt to generate some fan support and involvement. Fans were encouraged to send their suggestions to the team; several nominated the winning name Steelers to reflect the city's primary source of employment, winning season tickets for their suggestion...

In 1962, Republic Steel of Cleveland approached the Steelers and suggested that they consider the Steelmark, the insignia used by the American Iron and Steel Institute (AISI), as a helmet logo to honor Pittsburgh's steel heritage. The Steelmark logo, a circle enclosing three hypocycloids (diamonds with inward-curving edges) and the word STEEL, was created by U.S. Steel Corp. (now known as USX Corp.) to educate consumers about the importance of steel in their daily lives.

So the Super Bowl this year is definitely factory vs. factory--both core to America's infrastructure.  Hey, if you're not a Packers or Steelers fan you can root for a team based on which you appreciate more--steel or meat.

Beyond that economic story, the Dallas/Fort Worth Star-Telegram details the effect of the Super Bowl on the local economy:

One report, commissioned by the host committee, says that next month's big game will generate $611 million in North Texas. A previous analysis, done for South Florida last year, said visitors would spend $153 million there.

If that gap isn't wide enough, some academics say that marquee sports events are worth maybe one-tenth of the projections. One even says that hosting a Super Bowl actually reduces per capita income.

Frankly, that last person seems like a bit of a naysayer.  Given the number of people flooding into Dallas/Ft. Worth, this will more than likely have a positive impact on local retailers.  New construction work to prep for the frenzy will create jobs.  So whether or not the game brings in 100 or 600 million, it will still bring in millions of dollars.

The article continues to breakdown the projected surge in economic activity:

Next month's game is projected to bring 147,000 visitors from outside the state, according to a study commissioned by the host committee. Only 9 percent of game tickets are going to locals, which may frustrate area fans, but that means more spending on hotels, restaurants and transportation.

Another half-million state residents are expected to attend some of the weeklong events, the study says, and attractions are split among the big cities.

The first week of February is not exactly high season for tourists in North Texas. Unlike traditional Super Bowl sites Miami, New Orleans and Arizona, the tourism boost is almost all upside here.

The NFL alone booked 24,000 hotel rooms. About 130 corporate sponsors and advertisers will be in town to entertain guests and reward top employees. And 700 private jets plan to fly into airports in Arlington, Fort Worth, Dallas and Addison.

Dallas/Fort Worth Airport expects an additional 150,000 passengers, said Bill Lively, president of the Super Bowl host committee.

So yeah, a lot of money. In a time where so many are jobless and the economy's struggling, it can veer towards insulting to see professional athletes make more for one game than most people make in a year.  That fact notwithstanding there is a positive economic component to sports hysteria, and this game in particular is a huge boon to local economies.  So you could argue that players are earning their money not just by their play, but by the economic impact of the game.

Who are you rooting for this year?  Me: the Packers.  I'm a Jets guy so it's pretty natural, but I'd also like to see Aaron Rogers win one.  If it was a choice between steel and meat, though, I think I'd have to go with steel.