Study: $22.5B impact expected for 2016 Olympics

December 11, 2008 11:55:31 AM PST
The Chicago 2016 organization released a recent study that projects $22.5 billion in economic activity will be generated in the state of Illinois in conjunction with the 2016 Games, were they to be held in Chicago.The study predicts that the city of Chicago alone stands to see $13.7 billion of that activity projected between 2011 and 2021. The study also says the state stands to gain 315,000 job-years stemming from the Olympics.

" Chicago's enormous visibility on the global stage, should it be chosen to host the Games in 2016, would have a direct impact on the city's tourism industry, educational institutions, cultural institutions, business community and neighborhoods," says a release from 2016 Chicago.

The study also projects increased participation in sports in the United States, particularly the Midwest, if Chicago were to host the Games.

Chicago 2016 said the study took into account the projected $1.4 billion it would cost to host the Games.

Cook County is expected to net $5.5 billion. The six collar counties would get an injection estimated at $1.8 billion and the remainder of Illinois would see another $1.5 billion in new economic activity, the study says.


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