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Packers show economic growth in 2016, Titletown Dist. will help "keep team here"

Tours set records at lambeau Field
Posted: 4:00 PM, Jun 24, 2016
Updated: 2016-06-24 19:39:12-04
GREEN BAY, WI -- It's been another strong year for the Green and Gold in 2016 in terms of revenue, according to numbers just released hours ago.
 
The Packers are taking in almost $49 million in net income, compared to $29 million in 2015.

Watch: Construction begins in Titletown District.

Packers spokespeople say, in 2016, the Packers took in $222 million in national revenue, and $186 million in local profit, which includes game day sales, the pro shop, and a record year for tours.
 
Those two totals, when subtracting 2016's total expenses of $333 million, leaves us first with $75 million in operations profits. When adjusted, that becomes $48.9 million in a net income. 
 
With that profit, spokespeople say they intend to invest in winning championships, and the community.
 
"Revenue is growing, and benefiting both players as well as management," says Packers CEO Mark Murphy, after discussing the numbers with the media.
 
Murphy says there are many factors contributing to a net income of $49 million, compared to $29 million in 2015.
 
"We've had labor peace," says Murphy, for starters. "We're in the middle of a 10-year collective bargaining agreement, so it's really working the way we had hoped." 
 
Along with that, Murphy says $370 million in stadium and atrium upgrades to date have paved the way for record breaking stadium tours, with 175,000 people last year.
 
"It's a place you have to go see, and not a lot of people can get tickets to packer games," says Murphy, "so I think the next best alternative is to take a tour." 
 
Lizzy Karrels, of Port Washington, agrees.
 
"We're actually visiting a relative today, and we stopped by the stadium," exclaims Karrels, "so, I'm really looking forward to seeing where the packers come out… of the tunnel.. into the stadium." 
 
The development of the Titletown District across the street is also pushing forward. Packers spokespeople say that fans should be seeing some completed buildings come November.
 
But they add that any serious revenue stream won't be felt until 2018. Even so, Murphy says the wait, and the work, is well worth it.
 
"Titletown will go a long way towards making sure that Green Bay has a strong enough economic base," says Murphy," to ensure that we can stay here in the long-run, and be able to continue to compete with billionaires who own teams in larger markets." 
 
For Karrels' sister, Olivia, knowing the cost of the tour her family was about to take was helping keep the Packers competitive in the NFL is "really cool," says Karrels, "that we're this close to Green Bay, and that we can.. come here, and watch them play whenever we want to." 
 
Other expense costs include $370 million of improvements to the stadium and the Lambeau Field Atrium. 

For the third year in a row, players salaries increased by $10 million which the team says is part of keeping the Packers competitive on the field.

The Packers say they've donated $6.5 million to charity organizations in 2016.