The Bank of America Chicago Marathon Gives a Boost to the Local Economy and to Nonprofits
Dec 26, 2012
The 35th Bank of America Chicago Marathon took place on October 7, bringing together 45,000 runners, 12,000 volunteers and 1.7 million spectators from around the world on one extraordinary Sunday. When the runners and spectators converged in Chicago, they had raised millions of dollars for hundreds of charities and spent millions in tourism dollars.
For more than two decades, the Bank of America Chicago Marathon has had a significant economic impact on the city. According to a University of Illinois report on last year’s race, the event contributed over $219 million of business activity and created the equivalent of 1520 full-time jobs. Every year, the race attracts new visitors, strengthens Chicago as a tourist destination, and diversifies the city’s economic base.
In addition to boosting the local economy, Bank of America’s support for the race is a significant fundraising opportunity for nonprofits. Last year, the Marathon raised $13.4 million for local, national and global organizations. From 2002 through last year, the Bank of America Chicago Marathon’s program generated more than $85 million for charitable causes. This year, almost 90 nonprofits entered the race.
Says Bank of America Chicago and Illinois Market President Tim Maloney, “At Bank of America, we tried to connect the dots with the Bank of America Chicago Marathon for social benefit, economic benefit, and philanthropic benefit. Last year’s race had an economic impact of $219 million, that’s an increase of 28% from the prior year. It means so much to us to do this well because we know the benefits produced by the race extend far beyond one Sunday in October.”
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