XLVI success goes beyond money

INDIANAPOLIS (WISH) - Indianapolis has been glowing with good reviews from Super Bowl XLVI. But was the 10-day event a money maker? That question is much more difficult to answer.

With all the positive feedback for hosting the Super Bowl, it's easy to forget that Indianapolis spent $25 million donated by private and corporate investors to win the right to host the game, and millions more to put it on. One thing is clear: Super Bowl XLVI had the eyes of the world on Indianapolis.

"You can't buy that,” said Bareny Levengood, the executive director of the Capital Improvement Board. “It's very, very good, and it will pay dividends."

But it's not clear yet if tax money collected during the 10-day run of the Super Celebration will be enough to pay the bills.

"I think the CIB has its own financial wherewithal to do what was asked of us,” said Levengood. “And as you all know, we have a commitment to the city, and those bills will be coming in. And I think we'll be able to more than handle what our commitments were."

The Indianapolis Capitol Improvement Board, which runs Lucas Oil Stadium, Bankers Life Fieldhouse and the Convention Center, budgeted $8 million for the Super Bowl. Earlier, Levengood said the CIB expected to lose just more than $800,000 for the event.

The CIB is obligated to pay Indianapolis $4 million to cover the costs of security, but the NFL will give the CIB $4 million.

Taxes paid by all those visitors to Indianapolis during the Super Bowl celebration will be the deciding factor in whether CIB profits, loses or breaks even. But it will be a month or more before those are tallied.

"Initial indications are that from a community standpoint, particularly at the state level, because they get the lion’s share of some of the economic impact, through state sales taxes, it's got to be a home run," Levengood said.

Employees of the NFL, which is tax-exempt, paid no taxes at their hotels or restaurants. And by agreement, no tax was collected on concessions sold by the NFL inside Lucas Oil Stadium and the Convention Center.

Those involved said the Super Bowl isn't an event that in and of itself makes a profit for a city. It's what it can mean to retailers, restaurants and convention business a month, two months, a year or more down the road that really matters.

During the festivities, 29 clients were guests of the Convention and Visitors Association and saw first-hand how the Super Bowl was handled. During that time, officials said, the Indianapolis brand got a big boost, and that will pay off down the road.