NASCAR’s 2024 Chicago Street Race Generated $128 Million For

DOWNTOWN — The 2024 NASCAR Chicago Street Race proved to be more profitable than its inaugural race last year, which saw widespread delays and cancellations due to severe weather.

This year’s race, which took place July 6 and 7, generated $128 million in total economic impact for the city, a 17 percent increase from 2023, according to a Temple University study commissioned by the city’s tourism bureau, Choose Chicago.

The race also generated $9.6 million in state and local tax revenue, the report showed.

This July, 53,063 people attended the NASCAR Street Race, up from 47,405 last year, the study showed. Overall, 74,922 attendees were counted for the event’s two days, down from 79,299 in 2023. The addition of single-day tickets contributed to the attendance discrepancies, according to NASCAR officials.

Media coverage of the event was also a boon for the city, officials said, citing an 85 percent increase in media exposure worth an estimated $43.6 million, the study showed. International media coverage played a large role in that boost.

“These reports show positive year-over-year growth across key impact metrics that we expect will be the beginning of a trend we will continue to observe next year,” Rich Gamble, interim president and CEO of Choose Chicago, said in a statement. “They also show that, in addition to significant direct economic impact, NASCAR is bringing incredibly valuable national and international media exposure to our city through the televised broadcasts of race days.”

The Chicago Park District also saw a bigger payout from the 2024 race. According to NASCAR’s contract, the park district collects $2 per ticket sold in addition to 25 percent of the net sales from food, beverage and merchandise. This year, the district’s cut was $220,552 compared to $119,899 last year. The district also collected a $550,000 permit fee from the racing organization.

This year’s race also created more jobs and saw an increase in booked hotel stays overall, according to the 2024 economic impact report.

“NASCAR’s presence in Chicago demonstrates that we are the best city in America for innovative sporting events,” said Mayor Brandon Johnson in a statement. “This is a race without parallel in the world and I am pleased that the event has generated positive economic impact and supported hundreds of jobs over the last two years. I look forward to working collaboratively with my leadership team and the community to leverage this event to drive even greater impact next year.”

The debut 2023 race attracted over 79,000 attendees — short of the 100,000 organizers predicted — generating $109 million in economic activity and $8.3 million in local and state taxes, according to an economic impact report from Temple University.

Critics of the NASCAR deal have previously pointed to the seemingly low cost of $500,000 in 2023 and $550,000 this year that the racing organization pays to use Grant Park, compared to events like Lollapalooza, which paid about $10 million in 2023.

Last year, to sweeten the deal, Johnson negotiated an additional $2 million payment to the city before agreeing to bring the race back for 2024.

This year, Johnson approved the 2025 race before the release of the 2024 economic impact report. The race will return July 5-6, 2025.