An Olympic Boom: ERA Predicts 2016 Games Would Bring $7 Billion Gain to LA
Looking to bring the Olympic Games to the City of Los Angeles for a
third time, the Southern California Committee for the Olympic Games
(SCCOG) looked to ERA’s Economic Planning Practice Group to conduct an
economic impact study to predict the potential economic impact the 2016
Summer Olympic and Paralympic Games would bring to the region. ERA used the evolving business plans of the SCCOG to define
available ticket numbers and to project ticket use, distribution, and
use by out-of-region visitors, international visitors, and regional
residents. ERA’s study forecast that the Olympic Games would mean over
$7 billion in overall impact and support 68,000 jobs.
The United States Olympic Committee will announce on April 14 whether
Los Angeles or its heartland competitor Chicago will be selected as the
US bid city to join the international pool of candidates vying to host
the 2016 games. The International Olympic Committee is expected to
select the 2016 host city in 2009.
ERA created the economic model to estimate the Olympic impacts during
its first assignment with the Los Angles Olympic Organizing Committee
in 1982. Since that time, ERA’s model has been used by virtually all
Olympic Games bidders and contenders and successful Olympic Games
presenters.
For additional details on this study, contact David Wilcox in Los
Angeles. For more information about ERA’s economic planning
practice, contact Shuprotim Bhaumik in New York City.
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