Conor McGregor
Conor McGregor celebrates after becoming the first UFC fighter in history to hold two-weight titles simultaneously following UFC 205 Getty

The UFC's record breaking first show in Madison Square Garden in New York on 12 November generated over $37m (£30m) in economic activity for the Big Apple, according to a report.

The much anticipated UFC 205 pay-per-view in November was dubbed the company's biggest ever card with Conor McGregor headlining the event as he defeated Eddie Alvarez for the lightweight title to become the first ever two division champion.

Other standout bouts were Tyron Woodley defending his welterweight title against Stephen Thompson to a draw while Joanna Jedrzejczyk defended her women's strawweight title against Karolina Kowalkiewicz.

As many as 20,427 people attended the event while the gate was $17.7m, the venue's largest ever for a show.

A report by Applied Analytics released on 13 February states that UFC 205 generated $37.4m in economic activity for the city.

The report also claims $18.3m in salaries and wages were generated for New York workers supporting 300 jobs. The state of New York also brought in $1.6m in taxes on the UFC's ticket, event merchandise and pay-per-view sales.

"We said it from the very beginning, we knew New York was going to be huge," UFC president Dana White said in a statement.

"It was a dream come true for the athletes, for the fans, and for our company to host a UFC event in 'The World's Most Famous Arena.'

"The numbers don't lie, a lot of people came out to support us and we're going to keep doing this up and down the state."

MMA was previously banned in the state of New York until March 2016 when it was uplifted by Governor Andrew Cuomo.

"Mixed martial arts competitions have already proven to be major economic drivers across New York, and the jobs and revenue generated by (the MSG) event illustrate the enormous impact of this growing industry in our state," Cuomo said.

"I look forward to seeing the further growth of this sport continue to foster economic activity, help create jobs, and further establish New York as an international entertainment hub."

The company followed up the event with UFC 208 in Brooklyn, New York on 11 February, but it was far from successful compared to the show in Madison Square Garden.