CLEVELAND - LeBron James made good on his promise to bring a championship to Cleveland and Northeast Ohio but a new study reveals the King is pretty good at bringing green to the local economy as well.
A study published by the American Enterprise Institute shows that wherever LeBron James has played in his NBA career, the economy near the arena has experienced a major economic boost.
The report says the number of restaurants and other eating and drinking establishments within a mile of the stadium James was based during his time with the Cleveland Cavaliers and Miami Heat increased by 13 percent. The report also reveals the employment within those establishments went up by 23 percent. Those numbers also dropped when James was not on either team.
Jad Sandi, who owns a small cafe on Euclid Avenue, agrees with the study and adds James has had an even bigger impact on his business.
"Yep, on my bottom line I can see the 15 percent,” said Sandi. “There's a big increase for sure and hopefully it stays this way."
The study was conducted by a Harvard University staffer from Cleveland along with AEI. The report also revealed the LeBron James effect ended when you moved more than 7 miles away from the arenas in both Miami and Cleveland.