{"id":425,"date":"2013-09-05T10:01:22","date_gmt":"2013-09-05T10:01:22","guid":{"rendered":"http:\/\/www.globalbuzz.net\/us\/?p=425"},"modified":"2013-09-05T10:01:22","modified_gmt":"2013-09-05T10:01:22","slug":"economic-impact-of-chicago-marathon","status":"publish","type":"post","link":"https:\/\/www.globalbuzz.net\/us\/news\/economic-impact-of-chicago-marathon","title":{"rendered":"Economic Impact of Chicago Marathon"},"content":{"rendered":"<div id=\"attachment_426\" style=\"width: 550px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon.jpg\" target=\"_blank\"><noscript><img decoding=\"async\" aria-describedby=\"caption-attachment-426\" class=\" wp-image-426 \" title=\"Chicago Marathon\" alt=\"Chicago Marathon\" src=\"http:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon.jpg\" width=\"540\" height=\"315\" srcset=\"https:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon.jpg 600w, https:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon-300x175.jpg 300w\" sizes=\"(max-width: 540px) 100vw, 540px\"><\/noscript><img decoding=\"async\" aria-describedby=\"caption-attachment-426\" class=\" wp-image-426  lazyload\" title=\"Chicago Marathon\" alt=\"Chicago Marathon\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20540%20315%22%3E%3C%2Fsvg%3E\" width=\"540\" height=\"315\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20540%20315%22%3E%3C%2Fsvg%3E 540w\" sizes=\"(max-width: 540px) 100vw, 540px\" data-srcset=\"https:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon.jpg 600w, https:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon-300x175.jpg 300w\" data-src=\"http:\/\/www.globalbuzz.net\/us\/files\/2013\/09\/chicago-marathon.jpg\"><\/a><p id=\"caption-attachment-426\" class=\"wp-caption-text\">Chicago Marathon<\/p><\/div>\n<p>CHICAGO &#8211; The Bank of America Chicago Marathon contributes an estimated $243.46 million in total business activity to the Chicago economy, according to a new economic impact report. The independent study was conducted by University of Illinois at Urbana-Champaign&#8217;s Regional Economics Applications Laboratory and announced today by Bank of America. Figures indicate an 11 percent growth over the 2011 Bank of America Chicago Marathon&#8217;s economic impact of $219.7 million.<!--more--><\/p>\n<p>The new study, which analyzed the 2012 Bank of America Chicago Marathon, found that the event directly contributed an estimated $98 million distributed among the main sectors of the tourism industry, plus another $145.46 million in indirect activity, accounting for more than $243.46 million worth of total business activity and an equivalent of 1,685 full-time jobs and $82.66 million worth of wages and salary income. This means that each dollar spent by a race participant generated an additional $1.29 worth of activity distributed through the Chicago economy. Study authors applied the use of the Chicago Region Econometric Input-Output Model to assemble the findings.<\/p>\n<p>&#8220;As one of the city&#8217;s premier events, the Bank of America Chicago Marathon really brings the city together,&#8221; said Mayor Rahm Emanuel. &#8220;It gives us an opportunity to proudly showcase our world-class hotels, restaurants and entertainment opportunities. I am appreciative of Bank of America&#8217;s efforts to support the Marathon, as evidenced by the growing interest and economic impact of the event.&#8221;<\/p>\n<p>&#8220;The Bank of America Chicago Marathon continues giving people a reason to visit our city, year after year, from around the country as well as around the world,&#8221; said Don Welsh, president and CEO of Choose Chicago, the city&#8217;s official tourism organization. &#8220;Its growing impact on hotel, dining, mass transportation and entertainment venues is a testament to the Chicago residents who positively represent our city in everything they do. The Marathon is much more than a sporting event; it&#8217;s a celebration that is truly global in scale.&#8221;<\/p>\n<p>&#8220;Many people come to Chicago for the first time because of the Marathon, and they come from all 50 states and more than 100 countries,&#8221; said Tim Maloney, president, Bank of America Illinois. &#8220;Tens of thousands of people look forward to it every year, whether they&#8217;re running in the race, cheering on family and friends, or running a business that caters to these groups. We are proud to work hand-in-hand with Chicago officials and residents to ensure that every Marathon participant has a positive experience and wants to return next year.&#8221;<\/p>\n<p>The Bank of America Chicago Marathon not only draws 45,000 race participants but also attracts new visitors to Chicago and contributes to improving the image of the city as a tourist destination. In addition, the event takes place during a low tourism period, helping to reduce the negative effect of seasonality in Chicago tourism.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHICAGO &#8211; The Bank of America Chicago Marathon contributes an estimated $243.46 million in total business activity to the Chicago economy, according to a new economic impact report. The independent study was conducted by University of Illinois at Urbana-Champaign&#8217;s Regional Economics Applications Laboratory and announced today by Bank of America. Figures indicate an 11 percent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[116,188,1,113,117],"tags":[719,717,718],"class_list":["post-425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-news","category-running","category-travel","tag-sports-business","tag-sports-tourism","tag-us-marathon"],"_links":{"self":[{"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/posts\/425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/comments?post=425"}],"version-history":[{"count":2,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/posts\/425\/revisions"}],"predecessor-version":[{"id":428,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/posts\/425\/revisions\/428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/media\/426"}],"wp:attachment":[{"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/media?parent=425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/categories?post=425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalbuzz.net\/us\/wp-json\/wp\/v2\/tags?post=425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}