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* Press release from the Mayor Brandon Johnson administration…
“Today, NASCAR announced its 2024 schedule, which includes a return to Chicago on July 6th and 7th for Chicago Street Race weekend. At the conclusion of this year’s race, the Johnson Administration began conversations with NASCAR with the goal of addressing concerns raised by residents, alderpeople and other stakeholders, while acknowledging NASCAR’s contributions to the City’s economy and communities.
“As a result of these conversations, NASCAR has agreed to shorten the event’s set up and tear down windows, reducing travel disruption for impacted communities and other residents. NASCAR has also committed to addressing costs incurred by City departments and agencies in facilitating and securing the event as consistent with other large-scale events. This is a win for Chicago taxpayers, as the original agreement did not include provisions for such costs.
“Finally, NASCAR has committed to growing its impressive investments in Chicago communities and expanding opportunities for small-, minority- and women-owned businesses to participate as vendors in 2024. The City looks forward to working with NASCAR and other stakeholders to deliver a successful Chicago Street Race weekend in 2024 that works for residents, fans and Chicago’s economy.”
Thoughts?
…Adding… Crain’s…
The racing company issued a press release on Wednesday hours after the city’s tourism bureau, Choose Chicago, released the results of an economic impact study that showed the race weekend generated $108.9 million for the local economy, despite being hampered by rain that canceled the Saturday NASCAR Xfinity Series race and weekend concerts and postponed the main event, the NASCAR Cup Series race on Sunday.
The report is here.
posted by Rich Miller
Wednesday, Oct 4, 23 @ 2:53 pm
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Did the city profit off of the first race? That’s the bottom line for me.
Comment by DS Wednesday, Oct 4, 23 @ 2:58 pm
Crain’s says the Choose Chicago report released today claimed a $108.9 million economic benefit with the first race. So I’d like to think so.
Comment by Tim Wednesday, Oct 4, 23 @ 3:04 pm
Keeping Dr. Arwady and dumping NASCAR seemed like two no-brainers for me if I was mayor.
But I’m not mayor. Sigh.
Comment by 47th Ward Wednesday, Oct 4, 23 @ 3:14 pm
Just call the F1 guys and get a race booked. Chicago’s lakeshore is a picture perfect venue for F1.
Comment by Give Me A Break Wednesday, Oct 4, 23 @ 3:14 pm
I enjoyed watching the race on TV - Hope they get better weather in 2024.
Comment by Chicagonk Wednesday, Oct 4, 23 @ 3:19 pm
Add Lower Wacker to the NASCAR course. That I’d pay to see.
Comment by Michelle Flaherty Wednesday, Oct 4, 23 @ 3:23 pm
Agree with Give Me A Break, this is a F1 town and not just cause I’d love to meet Lewis Hamilton. the event did not make as much money as Lolla. but it did look beautiful on tv. and they do have a contract. thanks…no thank….LL.
Comment by Amalia Wednesday, Oct 4, 23 @ 3:26 pm
-Just call the F1 guys and get a race booked. Chicago’s lakeshore is a picture perfect venue for F1.-
Just look at the footprint and duration of time F1 is consuming central Vegas for their setup. Chicagoans would go ballistic if NASCAR consumed Grant Park for more than two months. F1 also cut down many of the trees along the strip too.
I’m stoked. Other than the torrential rains this year was a great success. Bring it back.
Comment by Matty Wednesday, Oct 4, 23 @ 3:27 pm
They should choose a new place every year and get nascar to repave it beforehand. Would love to see the cars hit 210 going up LSD. And love the idea of lower Wacker…how crazy would that be? Like Grand Theft Auto
Comment by Jibba Wednesday, Oct 4, 23 @ 3:30 pm
= NASCAR has agreed to shorten the event’s set up and tear down windows =
I’d like to know by how much.
Comment by JoanP Wednesday, Oct 4, 23 @ 3:42 pm
Curious about the early July timing. Chicago tourism over the 4th will happen with or without NASCAR. Why not do it another weekend not already carrying multiple events?
Comment by Lincoln Lad Wednesday, Oct 4, 23 @ 3:44 pm
-Curious about the early July timing. Chicago tourism over the 4th will happen with or without NASCAR. Why not do it another weekend not already carrying multiple events?-
It’s all to do with NASCAR television contract, which sunset’s after 2024. Previously, NASCAR raced at Chicagoland Speedway in Joliet on Independence Day weekend, but that track was serving as a new vehicle warehouse amid the chip shortage at the sunset of COVID 2020. NASCAR then took the show to the nearest capable event in the market - Road America in Elkhart Lake, WI. The streets of Chicago much better fulfilled the intentions of the original television contract, so that’s why it is on Independence Day weekend.
Comment by Matty Wednesday, Oct 4, 23 @ 3:51 pm
Agree with Michelle about using Lower Wacker.
Comment by Jerry Wednesday, Oct 4, 23 @ 4:01 pm
Amazing how Choose Chicago refused to release any hotel occupancy numbers for the race weekend until yesterday while they had the numbers for the Taylor Swift weekend in two days.
The use of Temple University for this study brings up a host of other questions. It reminds me of a tradeshow impact study that claimed an economic impact greater than the Super Bowl which resulted in Choose Chicago spending over $7 million on that single show while the economic impact never materialized.
https://www.hvs.com/article/9384-quieting-the-noise-in-economic-impact-estimates
Comment by Chicago 20 Wednesday, Oct 4, 23 @ 4:03 pm
Agree with doing Formula 1 but it has to be on an otherwise dead weekend so as to minimize traffic disruption. I’d pay money to see NASCAR racing in winter driving conditions down Lake Shore drive.
Comment by Give Us Barabbas Wednesday, Oct 4, 23 @ 4:15 pm
Thanks Matty. That makes it clear… appreciate it.
Comment by Lincoln Lad Wednesday, Oct 4, 23 @ 4:53 pm
Agree about F1 I’d like to see that, but on a weekend where nothing much else is going on Downtown, to reduce the traffic hassles. I’d pay extra to see NASACAR races negotiate Lake Shore Drive in winter.
Comment by Give Us Barabbas Wednesday, Oct 4, 23 @ 6:08 pm
My favorite light fiction is tourism economic impact reports.
Comment by ChicagoBars Wednesday, Oct 4, 23 @ 9:16 pm
How do you measure success? In 2022, the NASCAR Illinois 300 in Madison, IL drew 83,000 fans, about 4,000 more people than the NASCAR attendance in Chicago in 2023.
https://www.illinois.gov/news/press-release.24620.html
Comment by Chicago 20 Thursday, Oct 5, 23 @ 12:15 am
Here Temple University says the Philadelphia Eagles going to the Super Bowl and the Philadelphia Phillies making it to the World Series doesn’t mean Philadelphia will see much of an economic boost. Packed stadiums, multiple games, nationally televised sports events lasting weeks instead of a single weekend of racing.
“I don’t want to burst everyone’s bubble, but the economic impact of this all is next to nothing,” said Michael Leeds, a professor of economics at Temple University.”
https://news.temple.edu/news/2023-02-01/philadelphia-economy-was-not-built-sale-championship-t-shirts
Comment by Chicago 20 Thursday, Oct 5, 23 @ 12:27 am
– I’d pay money to see NASCAR racing in winter driving conditions down Lake Shore drive. –
NASCAR, but in snow plows.
Comment by Michelle Flaherty Thursday, Oct 5, 23 @ 7:23 am