A recent report indicates that $220 million was raised for the Windy City.
There’s little doubt that large races are good for their host cities in many ways. To prove this, look at the Bank of America Chicago Marathon.
In a recent article posted in the Chicago Sun Times, the marathon brought home a staggering $219.7 million to the Windy City–a new record.
These results were released from a report that was issued on Wednesday by the Regional Economics Applications Laboratory at the University of Illinois at Urbana-Champaign.
The $219.7 million is the equivalent of creating 1,520 full-time jobs.
“The world comes to Chicago for the marathon — not only elite runners, but running clubs, people running for charity and others pursuing their personal bests,” said Bank of America spokeswoman, Diane Wagner.
The report went on to point out that each dollar spent by a race participant generated another $1.29 worth of activity.
Tourist dollars aside, the marathon is also good for charities. Last year, $13.4 million was raised for nonprofits, which was a 34-percent increase from 2010.
For More: Chicago Sun Times