Patrick Ryan, head of Chicago 2016’s fundraising, told the Civic Committee of the Commercial Club of Chicago Thursday that Chicago’s business and civic leaders have already contributed $8 million of the $25 million in private financing the city needs by March 31, 2007 to back its bid for the 2016 Summer Olympic Games.
According to the Chicago Tribune some outside observers say the progress is impressive since the formal bidding process began in June.
The newspaper reports that the momentum comes after a period of wariness in the business community and observers say it stems at least in part from the increasing flow of information about Chicago’s plans, which were revised in response to suggestions from the U.S. Olympic Committee.
R. Eden Martin, president of the Civic Committee said, “there was a great deal of enthusiasm among people at the program today. Partly it was enthusiasm for sports…and as Pat said, it’s good for the long-term economic development of the city and region. It will do a lot for jobs and improved transportation and for the reputation of the city internationally”.
Meanwhile Chicago 2016 announced Thursday that it has retained Hill & Knowlton (H&K) to provide strategic counsel and media relations support for the bid.
The company has supported the Athens and London Olympic bids and has worked extensively with the International Olympic Committee.
H&K is now supporting communications for Beijing 2008 and PyeongChang 2014.
