The Bank of America (BofA) Chicago Marathon
has contributed an estimated $171.5m in total business activity to
the Chicago economy, according to a new economic impact study
conducted by University of Illinois at Urbana-Champaign’s Regional
Economics Applications Laboratory (R.E.A.L.).
The study, which analysed the BofA Chicago
Marathon, found that the event has directly contributed an
estimated $70.6m distributed among the tourism industry, as it
attracted new visitors to Chicago.
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The BofA Chicago Marathon also contributed
$100.9m in indirect activity, according to the study.
The study also states that the BofA Chicago
Marathon accounted for more than $171.5m worth total business
activity and an equivalent of 965 full-time jobs and $55.91m worth
of wages.
President of Bank of America Illinois, Tim
Maloney, said, “The Bank of America Chicago Marathon has been able
to generate such a positive economic impact. We are proud of our
association with the marathon and the role it plays in helping make
opportunity possible for the Chicago community to grow and
prosper.”
The 2011 BofA Chicago Marathon, that will take
place on 9 October, has reportedly reached the 45,000-participant
capacity in a record 31 days. Approximately 10,000 of the
participants, according to BofA, have indicated they will be
visiting Chicago for the first time from 50 US states and 109
countries.
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By GlobalDataThe BofA Chicago Marathon is in its 34th
year.
