Illinois Senate Adds Support To 2016

March 27, 2009: The Illinois Senate has added its support to Chicago’s bid to host the 2016 Summer Olympics by signing a $250 million state guarantee, joining the state House of Representatives, which approved the guarantee last week. If Chicago is awarded the Games by the International Olympic Committee this October, state taxpayers would be responsible for up to $250 million only if the Olympic games prove to be unprofitable. The IOC will be visiting Chicago next week in the first of four stops among cities bidding for the 2016 Olympics, including Madrid, Tokyo and Rio de Janeiro. Chicago 2016 organizers have said that the 2016 Games could put $22.5 billion into Illinois’ economy and create 315,000 jobs. “Our skin is in the game. This means we can continue on an equal basis with the other bid cities,” Sen. Kwame Raoul, the lead Senate sponsor of the Olympic funding guarantee, said in a statement. “[I’m] confident enough that we won't tap into that $250 million that if I were a betting man, I'd put my own home on the line.” Back to Home Page



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