Estimated economic and fiscal impact shows cumulative $3.9 billion in output
The hosting of another Olympic and Paralympic Winter Games in Utah in 2030 would make a significant economic impact to the state, generating jobs, income, and economic output. An analysis by the Kem C. Gardner Policy Institute shows this additional impact would build upon the significant success of the 2002 Games, including the subsequent growth in both the state’s travel and tourism, and sports and entertainment industries.
“Salt Lake City enjoys a significant advantage of looking back on the lessons learned from hosting the 2002 Olympic Winter Games when examining the potential economic, social, and environmental impacts of hosting the games in 2030,” said Gardner Institute director Natalie Gochnour. “The 2002 Games left a lasting legacy on the Beehive State and left us favorably positioned to host another successful event.”
Key findings from the report include the following:
Economic impact of 2030 Games – Estimated to create a cumulative total economic impact of $3.9 billion in output, 30,000 job-years of employment, and $1.5 billion in personal income in Utah. While significant, this impact is less than the 2002 Games because the venues are already in place, requiring less new construction.
Fiscal impact – A 2030 Games is estimated to generate $22.0 million in net State revenues and $42 million in net local revenues. New spending – A 2030 Olympic Winter Games in Utah would include an estimated $3.2 billion in direct expenditures from broadcast rights, visitors, federal security expenditures, and other sources. These expenditures are offset by out-of-state purchases, in-state revenue sources, and displacement of skier visits.