Sports have always had a major impact on the entire business world. They can create multiple jobs, new products and help improve the fortunes of many other companies. In Indiana, there are two different sports related news stories that will have an impact on the business world.

Last week, this blog covered a proposal to create an $87 million soccer stadium and entertainment venue in Indianapolis. Now, in the latest developments, the Indiana House Ways and Means Committee has approved the stadium plan. Indy Eleven Owner Ersal Ozdemir released a statement after the ruling, saying they are ready to work with legislators to discuss what the success of the team and this stadium could mean for the state.

"On behalf of Indy Eleven, its 7,000 season ticket holders and the hundreds of thousands of Hoosiers with a connection to the 'world's game,' I want to express my deep gratitude to the leadership and members of the House Ways and Means Committee for their bi-partisan vote today to allow our multi-purpose stadium proposal to move forward," Ozdemir said.

To see how much business a sporting event can bring to the area, look no further than the tournament that Hockey Time Productions recently held in South Bend. Over Presidents Day weekend, the event had an economic impact of nearly $1 million. At the competition, 75 teams participated and roughly 3,400 spectators came to the area.

This increase in business from sporting events is natural. Organizations around these areas should partner should deploy business management software to ensure they are able to handle any boost to business.