News From Chicago 2016 – Economic Study, Video Contest Winners

Chicago 2016 announced Thursday the results of an independent economic-impact study commissioned to quantify the economic effects on the State of Illinois and the City of Chicago from hosting the 2016 Olympic and Paralympic Games.

The study found that the Games are expected to stimulate $22.5 billion of incremental economic activity in the State of Illinois – $13.7 billion in the city of Chicago alone – during the 11-year span of 2011 through 2021.

The study also found that 315,000 new job-years will be created during this period.

Patrick G. Ryan, chairman and CEO of Chicago 2016 said, “the long term legacies and lasting impact of the Games are perhaps the greatest benefits of being a host city. Our plan focuses heavily on many transformative legacies and includes robust economic development, programs for youth and sport, urban development and education. This study reinforces the economic legacy which we’ve seen play out in past host cities”.

Meanwhile the bid committee announced Thursday the first and second place winners in the “Why Chicago” video contest. The contest was launched in October and asked people across the United States to submit videos explaining why they think Chicago should be chosen to host the 2016 Olympic and Paralympic Games.

A panel of judges selected the top five videos based on a combination of popular vote, originality, creativity, and relevance to the “Why Chicago” theme and production quality.

The first place winner won a trip for two to Vancouver for a behind-the-scenes tour of the preparations for the Vancouver 2010 Winter Games. The second place winner will receive $5,000 worth of video production equipment of his choice.

The winning videos can be viewed at www.chicago2016.org/contest/entries.aspx.