RICHMOND, Va. -- The River City is just over one hundred days away from cycling’s pinnacle event. The World Cycling Championships descends on the commonwealth in September, with one thousand professional cyclists from more than 70 countries.
It’s estimated that 450,000 people from around the world will attend Richmond 2015 events over a nine-day period. Organizers say they’re now implementing plans for a project that’s been underway since Richmond won the bid to host the race in September 2011. It’s only the second time in the races history, that it’s been held in the United States.
The estimated cost of the event is over $20 million dollars. Richmond 2015 organizers say they have funded more than 60% of the race so far through corporate sponsorships. They anticipate the remaining budget will be met through some more sponsorships and major revenue stream from the event itself.
Lee Kallman, Vice President of Richmond 2015 marketing and development, says VIP ticket sales, royalties on travel programs, fees on international broadcasts and merchandise and concession sales, should generate millions more in revenue.
“The economic benefit is projected to be about $160 million dollars across the state, about $130 of that is concentrated in the Richmond region,” Kallman says.
Kallman argues that organizers aren’t worried they’ll fall short of their budget, or put the burden on taxpayers. The city of Richmond, Henrico and Hanover counties and the Commonwealth of Virginia are partners in the event.
“The reasons these jurisdictions and the state got involved early on in this whole thing was because of the huge opportunity,” Kallman says. “We talked about the huge global television audience, hundreds of millions of people.”
While the bulk of activities will take place in downtown Richmond, several jurisdictions are preparing for the race. Roadways along the race’s four courses are being repaved. Historic cobblestones on 23rd street in Richmond’s Churchill district are being completely replaced, and beautification projects are underway in “fan zones” like Monroe Park, Libby Hill, Monument Avenue and downtown Richmond. The Richmond Convention Center will be the epicenter and finish line for the race.
Richmond 2015 is seeking 3,000 volunteers to help with race activities. So far, more than 2,300 people from 40 countries have signed up to help in various capacities.
