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PHOENIX -- The city might want to start stockpiling red, white and blue balloons: Phoenix could host both the Republican and Democratic national conventions in 2016.

The Arizona Republican Party confirmed that a committee led by former U.S. Sen. Jon Kyl submitted a bid Tuesday to host the 2016 national convention. Meanwhile a spokeswoman for the Democratic National Committee said that Phoenix was on the list of over two dozen cities contacted about possibly hosting its convention.

Deadline for submission for the Republicans is Wednesday. Democrats have until Saturday.

The Valley was a finalist to host the RNC two years ago.

"It's larger than the Super Bowl, economically, but smaller than the Olympics. Anytime a city can be selected for this type of convention, it's great for all of the citizens of Arizona," State Party Chairman Robert Graham said.

Graham said Tampa collected almost $200 million in direct spending when it hosted the 2012 convention.

Denver formally put in its GOP bid Monday.

Other cities under consideration include Las Vegas and Dallas.

A decision is expected to be made in August.

CNN reported that the DNC wants the convention site to have union ties, be able seat up to 25,000 and also required the area to have almost 20,000 hotel rooms.

KTAR's Jim Cross contributed to this article.

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