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DOWNTOWN — In 2024, the NASCAR Chicago Street Race outperformed its inaugural event from the previous year, which faced significant delays and cancellations due to harsh weather conditions.
This year’s race, held on July 6 and 7, produced a total economic impact of $128 million for the city, marking a 17 percent increase compared to 2023, according to a study by Temple University commissioned by the city’s tourism bureau, Choose Chicago.
The report also indicated that the event contributed $9.6 million in state and local tax revenue.
Fans erupted in cheers during the Grant Park 165 race, part of the NASCAR Chicago Street Race series, held in Grant Park on July 7, 2024. Credit: Colin Boyle/Block Club Chicago
This July, the NASCAR Street Race attracted 53,063 attendees, an increase from the previous year’s 47,405, as per the study. The total attendance over the two-day event reached 74,922, a decrease from 79,299 in 2023. Officials from NASCAR noted that the introduction of single-day tickets played a role in these variances.
The media coverage surrounding the event significantly benefited the city, with officials pointing to an 85 percent increase in media visibility, which was estimated to be worth $43.6 million, the study indicated. The rise in international media coverage was instrumental in this enhancement.
“These reports illustrate a positive trend in year-over-year growth across critical impact metrics, which we anticipate will continue into next year,” stated Rich Gamble, interim president and CEO of Choose Chicago. “Additionally, they demonstrate that NASCAR not only creates a significant direct economic impact but also provides our city with invaluable national and international media exposure through the televised race day broadcasts.”
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Mayor Brandon Johnson puts on a fire suit prior to the Grant Park 165 race, part of the NASCAR Chicago Street Race series, held in Grant Park on July 7, 2024. Credit: Colin Boyle/Block Club Chicago
This year, the Chicago Park District benefited from a larger profit due to the race. Based on NASCAR’s contract, the district receives $2 for every ticket sold, along with 25 percent of the net sales from food, beverages, and merchandise. The district’s earnings this year totaled $220,552, significantly higher than last year’s $119,899. Additionally, the district secured a $550,000 permit fee from the racing organization.
Furthermore, this year’s event generated more job opportunities and a noticeable rise in hotel bookings, as noted in the 2024 economic impact report.
Mayor Brandon Johnson remarked, “NASCAR’s presence in Chicago showcases that we are the premier city in America for groundbreaking sporting events. This is an unmatched race globally, and I am delighted that it has produced a favorable economic impact while supporting hundreds of jobs over the past two years. I am eager to collaborate with my leadership team and the local community to maximize this event’s potential for even greater impact next year.”
The inaugural race in 2023 drew over 79,000 spectators, falling short of the anticipated 100,000 attendees. It brought about $109 million in economic activity and contributed $8.3 million in local and state taxes, according to an economic impact report by Temple University.
Drivers compete in the Grant Park 165 event of the NASCAR Chicago Street Race series held in Grant Park on July 7, 2024. Credit: Colin Boyle/Block Club Chicago
Critics of the NASCAR agreement have noted the seemingly minimal fees of $500,000 in 2023 and $550,000 this year that the racing organization pays for the use of Grant Park, especially when compared to events like Lollapalooza, which incurred costs of approximately $10 million in 2023.
To enhance the arrangement last year, Johnson negotiated an additional $2 million payment to the city prior to confirming the race’s return for 2024.
This year, Johnson gave the green light for the 2025 race before the 2024 economic impact report was released. The race is set to take place again on July 5-6, 2025.
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2024 NASCAR Chicago Street Race Sees 17% Economic Growth, 53,000+ Fans in Attendance
Overview of the Event
The 2024 NASCAR Chicago Street Race has created a significant buzz, attracting over 53,000 fans and marking a remarkable 17% economic growth compared to the previous year. This event has not only showcased thrilling racing but has also demonstrated its positive impact on the local economy and community engagement.
Economic Impact of the 2024 NASCAR Chicago Street Race
The economic boost from the NASCAR Chicago Street Race is attributed to multiple factors:
- Increased Tourism: The event drew fans from across the country, enhancing hotel occupancy rates and local tourism.
- Local Business Revenue: Restaurants, shops, and vendors experienced a surge in sales, contributing to the overall economic uplift.
- Job Creation: The influx of visitors led to temporary and permanent job opportunities in various sectors, particularly in hospitality and retail.
Economic Growth Statistics
| Metric | 2023 | 2024 | Growth (%) |
|---|---|---|---|
| Attendance | 45,000 | 53,000 | 17.8% |
| Local Business Revenue ($ millions) | 50 | 58.5 | 17% |
| Job Creation | 200 | 250 | 25% |
Fan Engagement and Experience
The NASCAR Chicago Street Race is renowned for offering an engaging experience that goes beyond just the races. Here are some highlights:
- Interactive Activities: Fans enjoyed various interactive zones, including meet-and-greet opportunities with drivers and pit crew demonstrations.
- Live Entertainment: Concerts and performances added to the festival atmosphere, keeping the excitement alive beyond the races.
- Food and Beverage Options: A wide array of local food vendors provided fans with a taste of Chicago’s culinary scene.
Feedback from Attendees
Feedback from attendees indicates a high level of satisfaction with the event. Many fans appreciated the accessibility of the street race format and the vibrant atmosphere. Comments highlighted the excitement of experiencing NASCAR in Chicago’s urban landscape, blending world-class racing with the city’s unique culture.
Community Benefits
The NASCAR Chicago Street Race has also provided substantial benefits to the local community:
- Charitable Contributions: Portions of the event’s proceeds were allocated to local charities, helping to fund community programs.
- Community Engagement: Local schools and organizations were involved in the event, fostering a sense of community pride and engagement.
- Infrastructure Improvements: The event prompted enhancements to local infrastructure, benefiting residents long after the race.
Practical Tips for Future Attendees
If you’re planning to attend future NASCAR Chicago Street Races, consider these practical tips:
- Book Early: Due to high demand, securing accommodation in advance is advisable to avoid last-minute price hikes.
- Public Transportation: Utilize public transit options to ease parking challenges and enjoy a stress-free commute.
- Plan Your Schedule: Arrive early to soak in the pre-race festivities and ensure you don’t miss any of the action.
Case Studies: Success Stories from Local Businesses
Several local businesses reported significant boosts in sales during the event. Here are a few success stories:
- Joe’s Pizza: This local favorite reported a 40% increase in sales, thanks to the influx of hungry race fans.
- Chicago Souvenirs: A local shop specializing in memorabilia saw a 60% rise in merchandise sales, particularly in NASCAR-related items.
- City Tours: Local tour operators offered race-themed tours, significantly increasing their customer base during race weekend.
First-Hand Experience: What to Expect
If you’re new to NASCAR events, here’s what you can expect from the experience:
- The Sound of Speed: The roar of engines and the rush of cars create an electrifying atmosphere that can’t be replicated.
- Camaraderie: The sense of community among fans, whether in the stands or the fan zones, contributes to an unforgettable experience.
- Merchandise Galore: From hats to shirts, there are countless options for fans to bring home a piece of the action.
Conclusion
The 2024 NASCAR Chicago Street Race was not just a thrilling sporting event but a significant contributor to local economic growth and community engagement. With 53,000 fans in attendance and a remarkable 17% increase in economic performance, the event showcased the power of sports in driving local economies. As fans look forward to future races, the lessons learned from this event will undoubtedly shape the success of NASCAR in urban settings.
