FOR IMMEDIATE RELEASE
Bank of America Chicago Marathon Generates Record-Breaking $378 Million
for Chicago Economy in 2018
Event Impact Continues to Drive Tourism Industry, Business, and Job Growth
CHICAGO - The Bank of America Chicago Marathon continues to generate
significant impact for the city of Chicago, with the 2018 race contributing
a record-breaking $378 million to the city's economy, a $40 million
increase from 2017. This represents the second consecutive year the
marathon's economic impact has exceeded $300 million, which was felt by
tourism, hospitality, and business industries across the market.
View the 2018 economic impact infographic
The 41st Bank of America Chicago Marathon saw 45,857 participants, which
was an increase from 2017 as noted by the number of participant packets
distributed. Of these participants, 29 percent indicated they were
international visitors. Each year, the marathon attracts new visitors to
Chicago and enhances the image of the city as a leading tourist
destination.
"The Bank of America Chicago Marathon is not only one of the largest and
most prestigious marathons in world, but it is also an economic engine for
our city - including a record-setting $378 million last year - that takes
runners through 29 dynamic neighborhoods that together showcase our city's
diversity, history, and beauty," said Mayor Lori E. Lightfoot. "As mayor
and as a fan, I look forward to joining Chicagoans and cheering on runners
from all 50 states and more than 100 countries for the 42nd annual Bank of
America Chicago Marathon."
A recent economic impact study found that the 2018 event directly
contributed more than $154 million to the main sectors of the local tourism
industry, a nearly 13 percent increase from 2017, in addition to nearly
$225 million in indirect activity. This equates to 2,592 jobs and $127
million worth of wages and salary income.
The independent study is conducted by the University of Illinois at
Urbana-Champaign's Regional Economics Applications Laboratory. Study
authors used the Chicago Region Econometric Input-Output Model to estimate
the direct and indirect economic impact the marathon has on the local
economy.
"It's been amazing to watch our event grow year after year. On top of the
economic impact the marathon has on Chicago, we saw 10,000 charity runners
raise a record-breaking $22.7 million for worthy causes last year," said
Carey Pinkowski, Bank of America Chicago Marathon executive race director.
"To see Chicagoans welcome friends and family from all across the country,
and the world, to our one-of-a-kind event each year is incredibly special."
"To the celebrated runners, including several thousand who tirelessly
raised funds for local and national charities, and to the visitors from
near and far, we thank you for continuing to positively impact Chicago's
local economy by supporting and attending the Bank of America Chicago
Marathon," said Paul Lambert, Chicago market president, Bank of America.
"We could not have achieved more than $378 million in economic impact last
year without the support of our great city, its residents and businesses."
The Bank of America Chicago Marathon kicks off Sunday, October 13 at Grant
Park. For more information, please visit www.chicagomarathon.com.
About Bank of America Chicago Marathon
In its 42 nd year on Sunday, October 13, the Bank of America Chicago
Marathon welcomes thousands of runners from 140 countries and all 50
states, including a world-class elite field, top regional and Masters
runners, race veterans, debut marathoners and charity runners. The race's
iconic course takes runners through 29 vibrant neighborhoods on an
architectural and cultural tour of Chicago. Annually, an estimated 1.7
million spectators line the streets cheering on more than 40,000 runners
from the start line to the final stretch down Columbus Drive. As a result
of the race's national and international draw, the Chicago Marathon assists
in raising millions of dollars for a variety of charitable causes while
generating $378 million in annual economic impact to its host city. The
2018 Bank of America Chicago Marathon, a member of the Abbott World
Marathon Majors, will start and finish in Grant Park beginning at 7:30 a.m.
on Sunday, October 13. In advance of the race, a two-day Abbott Health &
Fitness Expo will be held at McCormick Place Convention Center on Friday,
October 11, and Saturday, October 12. For more information about the event
and how to get involved, go to chicagomarathon.com.
Bank of America
Bank of America is one of the world's leading financial institutions,
serving individual consumers, small and middle-market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk management products and services. The company
provides unmatched convenience in the United States, serving approximately
66 million consumer and small business clients with approximately 4,300
retail financial centers, including approximately 2,200 lending centers,
2,400 financial centers with a Consumer Investment Financial Solutions
Advisor and 1,700 business centers; approximately 16,600 ATMs; and
award-winning digital banking with more than 37 million active users,
including approximately 28 million mobile users. Bank of America is a
global leader in wealth management, corporate and investment banking and
trading across a broad range of asset classes, serving corporations,
governments, institutions and individuals around the world. Bank of America
offers industry-leading support to approximately 3 million small business
owners through a suite of innovative, easy-to-use online products and
services. The company serves clients through operations across the United
States, its territories and approximately 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other
important information, visit the Bank of America newsroom. Click here to
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www.bankofamerica.com
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