2016 Bid Would Generate $22.5 Billion in Economic Activity

Calif.-based Tootelian and Associates found has concluded that if Chicago wins the bid to host the 2016 Olympics, it could generate $22.5 Billion in economic activity for the city, state and region in the 2011-2021 time frame.

This far exceeds the cost to put on the Olympics which is being estimated at $4.7 Billion. However, many skeptics will point out that estimates are purely estimates in Chicago. Look at other major public projects (Millennium Park, Soldier Field, etc.) that were late and way over budget.

The other suspect thing about this $22.5 billion number is that the study seems to have been funded by the 2016 bid. So one would think the numbers would support the bids intentions.