Gov. John Hickenlooper, Denver Mayor Michael Hancock, and USA Pro Cycling Challenge CEO Shawn Hunter released the economic impact number at a news conference at the State Capitol on Tuesday.
Hunter told 9NEWS the race helped boost the cash surplus accounts of the cities that hosted the cyclists, their fans and the media who covered the race.
"The crowds were big, they were enthusiastic, they spent money in every host city, and just as importantly, they traveled to Colorado especially to see this race," said Hunter. "More than 22 percent of the million plus spectators at our race visited us from outside Colorado. And with 94 percent reporting they will return next year, that's a tremendous benefit for the State of Colorado in 2011 and in the future."
The 2011 race attracted spectators from at least 39 states in the nation, and at least 16 other countries according to organizers.
More than $67 million came in the form of direct spending by traveling spectators. Both those fans from outside the state and Coloradans traveling 50 miles or more to take in an event stage contributed $67.4 million on lodging, food, transportation and entertainment. The remaining economic impact comes in the form of team, staff, sponsor and vendor spending, employment created by the event, and the resulting tax effects of the race.
"We have something here in Colorado that is nearly impossible to duplicate: beautiful scenery, great amenities, and many world-renowned destinations," said Governor Hickenlooper. "Future USA Pro Challenge races will bring even more international attention to Colorado and lock in the state as the place to be in the summer."
(KUSA-TV © 2011 Multimedia Holdings Corporation)