Chicago 2016 Bid Gets Financial Boost

March 20, 2009: Rep. William Burns (D) of Illinois, whose district includes Chicago, said that the Illinois House of Representatives has voted to pledge up to $250 million to the city for any potential losses it may incur if Chicago is selected by the International Olympic Committee to host the 2016 Olympics. The Illinois Senate is expected to vote on the bill next week. Burns said that the Summer Games could have a $22 billion economic impact for Illinois. The U.S. Olympic Committee is currently in the midst of a cost-cutting initiative in an effort to reduce its operating budget from $142.6 million to $135.5 million, but financial support for the 2016 bid is not believed to be affected. The IOC will visit Chicago in April as part of its tour of the four cities bidding for the 2016 Games, which also includes Tokyo, Madrid and Rio. Back to Home Page

 

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