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Posted: Monday, 24 August 2009 10:39AM
$22 billion Olympics boost called 'crazy'
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CHICAGO (STNG) - Experts are calling into question the economic pluses Chicago’s economy would receive if the city is awarded the 2016 Summer Olympics.
Would the Olympics generate $22.5 billion dollars in benefits as Mayor Daley and the 2016 Committee claim? Or, would it be more like $11 to $17 billion as some experts suggest?
Crain’s Chicago Business talked with some experts, one of whom calls the mayor’s claim "crazy."
For instance, the mayor believes the Olympics would produce 315,000 jobs over 11 years, four times as many as were generated by the 1996 Olympics in Atlanta.
The 2016 Committee also expects a big boost in tourism after the Olympics, but some experts say that’s something that has not happened for other Olympic host cities.
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