Steve Grzanich has the business news of the day with the Wintrust Business Minute.
As the Lollapalooza 2023 lineup is announced, a new report says the event contributed about $335 million dollars to the Chicago economy last year. That’s the equivalent of about 2,500 full-time jobs. The report by a Texas-based research group says the $335 million figure represents a 10% increase over 2021. The music festival generated about $4.2 million in amusement tax revenue for the city. And since 2010, Lollapalooza has generated more than $2 billion for the Chicago economy. Organizers recently signed a 10-year renewal deal with the city. For comparison, the NASCAR event this summer is projected to generate about $114 million for the local economy.
Also, employees at another Chicago museum have announced their intent to form a union. Listen for more below: