LeBron James’ return to the Cleveland Cavaliers was exciting to many on Friday and according to Bloomberg News, the city of Cleveland will see a financial boom too:

Based on calculations by the Cuyahoga County Fiscal Office, James’s return will generate $215 million from games alone. Average attendance increased from about 12,000 before James joined the team to about 20,500 during his final season, the county said. Although attendance has slipped, officials expect sold out games next season with James on the court.

Also according to Bloomberg:

Other spending increases will come at restaurants, convention business and hotels, County Executive Ed FitzGerald said. Anticipated benefits include a $34 million increase in annual spending by fans at games to $170 million a year plus 500 additional jobs supported by the Cavaliers, the county said.

Forbes in January valued the Cavaliers at $515 million, 19th in the league. James makes the Cleveland Cavaliers a billion-dollar franchise, Peter Schwartz, managing director of venture capital at Boston-based Christie & Associates LLC, has said.