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As most of you know, Chicago secured the bid as the United States representative to host the 2016 Summer Olympics. Should Chicago be selected by the International Committee, there will be a large economic effect on the city.

The Olympic Games would put the city of Chicago at center stage. This, in turn, would provide a great boost to tourism and the local economy as a whole. State Senator Ed Maloney stated that, “[t]he games would have a positive economic impact on the entire city.” In a time when bankruptcy accounts for the only real relief of economic woes for many individuals, a lift in the local economy would do wonders for the pocketbooks and morale of Chicagoans.

This economic boon has already been evaluated by many sources. City Hall projects an economic benefit in the range of $8 - $10 billion. Even more modest estimates have pinned the benefits at upwards of $5 billion. Moreover, the economic effect is not limited to pure revenue increases. The Olympic Games are expected to create an additional 81,000 jobs throughout the city. This is a benefit that would be felt long after the games have ended. However, the benefits are not limited to during and after the games. Though these Olympic Games are still 9 years away, the bonuses of hosting the games would be felt fairly quickly. The amount of construction and city maintenance would require an increase in man power and hence jobs. The Olympics will have a wide ranging effect.

Let’s hope that Chicago is the world’s choice for the 2016 Summer Games. The world will benefit from experiencing our great city. In return, we will benefit long after.