Downtown Sacramento Partnership to Present Exciting Updates on Downtown’s Future at Annual State of Downtown Signature Event

SACRAMENTO, Calif. (March 11, 2024) – Proudly produced by Downtown Sacramento Partnership and presented by Stantec, the annual State of Downtown breakfast will take place on Tuesday, March 26, 2024, from 8 to 10 a.m. at SAFE Credit Union Convention Center. This highly anticipated event welcomes speakers including Congresswoman Doris Matsui, Mayor Darrell Stenberg, Executive Director of Downtown Sacramento Partnership Michael Ault, along with special keynote speaker and urban planner David Dixon.

Instrumental to the success and development to the central city, this program will focus on the accomplishments and challenges the city faced in 2023, as well as statements on positioning and groundwork that are foundational to the success of Sacramento’s urban core. New to the program this year, Executive Director Michael Ault will also provide a first-hand look at a once in a generation opportunity to build Sacramento from a destination of obligation to a destination of choice.

Keynote speaker David Dixon will be arriving days prior to the event to meet with downtown stakeholders and relate his experience with downtown revitalization to Sacramento leaders.

“We are at a really unique time for Sacramento,” said Michael Ault, Executive Director of Downtown Sacramento Partnership. “While we’ve been addressing necessary foundational change within the public space, we realized last year that we need to be equally as proactive as we are reactive. I’m excited to present items we’ve been working on this last year that could capitalize on the era of opportunity we face as the state capital.”

In addition, State of Downtown will feature a special JVance Stewart Award for Community Service. The award recognizes individuals and organizations that demonstrate a passion for enhancing the lives of others through service by improving the quality of life within the downtown core. Attendees will also hear from key downtown stakeholders including SMUD, Kaiser Permanente, Stantec, and the Sacramento Kings.

The State of Downtown program is presented by Stantec and sponsored by Kaiser Permanente, SMUD, Sacramento Kings, Tsakopoulos Investments, Bank of America, CBRE, Dignity Health, Colliers, Delfino Madden, LDK Ventures, Sacramento Asian Chamber, Golden 1 Credit Union, Tri Counties Bank, Sactown Magazine, CBRE, SAFE Credit Union, Cushman & Wakefield, Market One Builders, Sutter Health, Comstock’s Magazine, Donaghy Madden, Hansel Phelps, F&M Bank, and more.

National Experts Arriving in Sacramento for Game-changing Advisory Panel

Downtown takes the reins to capitalize on ‘new age of opportunity’ for Sacramento

SACRAMENTO, CALIF. (March 4, 2024) – Starting Wednesday, March 6, local and national experts will gather in Sacramento for an Urban Land Institute Technical Advisory Panel (ULI TAP) to interview critical Sacramento stakeholders and form recommendations that reimagines a capital destination district.

The ULI TAP panel will include Paul Levy, former President & CEO of Philadelphia’s Center City District; Tom Murphy, former Mayor of Pittsburgh; Jason Kenney, Chief Deputy Director of the California Department of General Services; and Kate Collignon, Managing Partner at HR&A San Francisco.

The panel will interview developers, city staff, Sacramento placemakers, economists, and industry leaders over the course of two days to form key recommendations and submit a preliminary proposal to share with local officials in the coming weeks. Findings from the report will be shared at the State of Downtown on March 26 and included in advocacy efforts following the annual event.

Previous recommendations from ULI panels have paved the way for the formation of the Capitol Area Development Authority (CADA), who are responsible for projects like the R St., Artists Lofts, BARK Park, and CLTRE Club; ULI TAP has also most recently provided recommendations for the Broadway Complete Streets Program, and for the recovery of downtown San Francisco.

Sacramento currently sits at a pivotal moment of opportunity, with downtown at the forefront. The ULI TAP is one of many elements Downtown Sacramento Partnership is utilizing to curate a multi-phased approach to redefine Sacramento post-pandemic. Further recommendations, strategies, and economic analyses will be released throughout 2024.

Golden 1 Center Serves as Major Economic Driver

Story Published: March 7, 2024

New Study Shows Updated Impact of Golden 1 Center on Greater Sacramento’s Landscape, Visitor Rate, Commerce and Investment in the Region

SACRAMENTO, CA -Golden 1 Center, home to the NBA’s Sacramento Kings and a community hub for major events, concerts and shows, continues to stand as a powerhouse contributor to the economic vitality of the Greater Sacramento region metropolitan area, according to a new economic impact report by renowned research company Applied Economics. The Greater Sacramento Economic Council (GSEC) commissioned the study to assess economic and tax impacts generated by the arena’s operations and visitor spending – 10 years after construction started on the arena.

In fiscal year 2022-23, Golden 1 Center hosted over 127 ticketed events, including NBA games, concerts, shows and other sporting events, attracting more than 1.5 million attendees. The analysis showcases the economic ecosystem supported by the arena, revealing significant contributions, job creation and growth to the Greater Sacramento region.

Key findings from the report include:

Economic Contribution: Golden 1 Center and Sacramento Kings operations collectively contributed an estimated $665 million in 2022-23 to the Greater Sacramento region. This economic boon is driven by arena operations, visitor spending, and induced economic activity.
Job Creation: The arena supported 2,002 jobs, reflecting robust employment opportunities and the wide-reaching impact of Golden 1 Center on Greater Sacramento’s workforce.
Visitor Spending: Beyond its role as a sports and entertainment hub, Golden 1 Center attracted visitors from across the region, injecting an estimated $42 million annually into the local economy through lodging, dining, retail, and transportation expenditures.
Tax Revenues – Golden 1 Center significantly bolstered state and local tax revenues. Estimated city taxes stemming from arena operations, employee expenditures, and visitor spending totaled $2.6 million annually, while county, school, and other local district taxes, along with state taxes, amounted to $22 million per year.

“Golden 1 Center vividly illustrates the impact that pursuing ambitious economic development projects can have on a region. It stands as a testament to the transformative power of bold action,” said Barry Broome, President and CEO of GSEC. “It underscores a critical lesson for the region and beyond; that taking calculated risks and investing in large-scale development projects can spark a wave of economic growth, investment and community development that benefits the entire region.”

According to recently released data from the Downtown Sacramento Partnership, since the arena’s groundbreaking in 2016, there has been an estimated investment of over $7 billion in the central city, and the Entertainment District (in which Golden 1 Center is positioned) is outpacing the rest of the downtown core by over 16% growth in assessment value. Visitation to the Entertainment District has seen over 18% growth in the past year, which is more than double the rest of Downtown’s growth rate. And in 2023, the arena contributed to 46 businesses opening, reopening, or signing leases in downtown Sacramento.

“Golden 1 Center is the single most impactful investment in the downtown core in the last decade,” said Michael Ault, Executive Director, Downtown Sacramento Partnership. “It has been essential in our community’s efforts to diversify our regional economy as daytime, in-office visitation has decreased, and serves as a catalyst for nearby small businesses and a growing central social district. The arena and surrounding entertainment district has been transformative to Sacramento’s brand identity and has become one of the defining features of our city and the entire region.”

Golden 1 Center stands as a vital pillar in the downtown Sacramento landscape, not only as the home of the Sacramento Kings but also as a beam for cultural and entertainment activities. The report underscores the arena’s integral role in fostering community vibrancy and economic prosperity.

For more information, access the GSEC report and Downtown Sacramento Partnership report.

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