The term "economic development" is one of those squishy terms that no one can completely get their arms around and everyone tends to think about it differently. It's kinda like, judging a good movie, your not really sure how to define it, but you know it when you see it. Everyone has an opinion! Grandma's Marathon in Duluth, MN was an example of that.
Aside from being a great marathon, Grandma's Marathon has a very interesting story behind it. It was started in 1976 when about a dozen guys decided they wanted to start a marathon in Duluth, MN. They got Grandma's Bar and Saloon to sponsor their race to the tune of $500. Flash forward 32 years and the race today has about 10,000 runners and $2.5 million in sponsorships from top tier companies like Wells Fargo and Toyota. I about fell out of my chair watching the news the night before the marathon when they estimated that the marathon would bring in $168 million to the local economy with a population of about 85,000! Needless to say, Grandma's now has several locations in Duluth. Now, that's economic development.
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