CLEVELAND -- In the past, many people would have laughed at the notion of a national political convention in Cleveland, but now there is a very real chance that the 2008 Republican National Convention will be staged here.

This would be an enormous coup for the city, not just because of the visitor dollars, but even more importantly because Cleveland would become the focal point of the worldwide media, reported 5 On Your Side anchor Ted Henry.

The clock is running for Cleveland to come up with a plan to be chosen as the site for the GOP convention.

New York, Minneapolis and Tampa are also in the running, but of the four, Tampa and Cleveland are widely believed to have the best chances.

Cleveland Mayor Frank Jackson said he is confident that Cleveland stands the best chance to land the convention.

"Where did that confidence come from? Well, it came from the fact that in the last two elections for the president of the United States, that the road through the White House was through Ohio," said Jackson.

The Republican Convention would draw 50,000 people to Cleveland, pumping more than $100 million into the local economy. But can the city physically stage such a huge convention?

To land the Republican Convention, Cleveland needs to have a total of 20,000 first class hotel rooms. Many people believe that kills the city's chances right out of the box -- but it doesn’t.

"Well, when you look at the total number of rooms in the 45-minute drive, we have over 30,000 rooms and they're looking for 20,000, so we do have more than enough needed," said the Greater Cleveland Lodging Council's Nancy Haley.

Another plus for the city is the comparatively uncrowded freeways, which make it possible to get from any regional hotel to downtown in less than the required 45 minutes.

The convention would be staged at Quicken Loans Arena, which is actually bigger and more modern than other competing halls. The media would be housed across the street in the empty Higbees building.

Convention Bureau President Dennis Roche believes that all this is enough to help Cleveland get the convention.

"I absolutely think we can pull this off or I don't think we'd be going through all of this effort," said Roche.

Frequent meetings at City Hall are aimed solely at bringing the convention to Cleveland. The job is convincing everyone that Cleveland has all it takes and to remind others of Ohio's politically strategic position.

"Ohio is the battleground state; it's been proven twice in a row now. So, in terms of getting votes and which way the election is going to go, Ohio is absolutely key," said Jackson press secretary Maureen Harper.

A big hall, hotels, restaurants, entertainment and shopping are all vital to Cleveland getting the convention, and it will require a coordinated effort.

NewsChannel5, along with the Plain Dealer and other media outlets, will be asked to spearhead a drive to convince Clevelanders that the city can stage such a huge event.

The price tag is more than $25 million, but state and federal dollars, along with private sector money, will be helping the city.

According to those most in the know, this is going to be a highly charged two-way race between Cleveland and Tampa.

Cleveland has been on its back financially for so long, it could be just the ticket to turn the city in a new direction.