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LeBron Effect: $500-Million to NE Ohio's Economy

LeBron Effect: $500-Million to NE Ohio's Economy

Cleveland residents and business owners are literally banking on the King's reunion with the Cavaliers.

LeBron James' return to Northeast Ohio is expected to actually help the area's entire economic recovery slightly.

A John Carroll University economist believes, despite much higher average ticket prices, all Cavaliers home games will sell out.

Last season the Miami Heat's average ticket price was a league high nearly $250.

LeRoy Brooks also tells Time.com he estimates the team could be heading to the NBA Finals.

That could be 13 additional home games.

That means the Quicken Loans Arena, nearby hotels, restaurants and shops will have to hire more staff to handle the additional business.

He estimates non-ticket related economic spending will be more than $170-million.

Add it all up, the finance professor estimates the LeBron Effect will add nearly $500-million into the local economy.

 

(Photo: Mike Ehrmann / 2012 Getty Images)

 

 

 

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