The economic Impact of the 2014 Summit League Basketball Championships brought in more than $8 million in business sales.
The figure includes local taxes, lodging, transportation, food, entertainment, shopping, organizer spending, and media coverage.
The Sioux Falls Arena played host to more than 37,000 fans for the 2014 Summit League Championships, which was ranked as the third highest attended conference tournament in League history.
"It is incredibly important. It is one of our main events," Teri Schmidt said.
Schmidt, from the Sioux Falls Convention and Visitor's Bureau, says this year's Summit League tournament was a tremendous success, which generated $8.52 million dollars for the local economy and $4.55 million dollars in direct business sales.
"It's what everybody works for. It's what our community rallies around and we are very excited about the possibilities," Schmidt said.
Creating the possibility to host more events at the Denny Sanford Premier Center.
"I think we are all waiting for that day when it's operational and start saying ok I need a sign here and a volunteer there," Executive Director of the Sioux Falls Sports Authority, Wes Hall said.
"The success of the Summit League tournament also opens the doors for Sioux Falls to host other events and connections because the word gets out around the United States. Hey there's a successful destination, let's take our event there so it opens the door for more business in addition to the Summit League," Schmidt said.