LA Olympics Could Add $40.6B, 224K Jobs
LA Olympics Could Add $40.6B, 224K Jobs
The News
The 2028 Los Angeles Olympics could generate up to $40.6 billion in economic output and 224,000 jobs across Southern California, according to an analysis the Los Angeles County Economic Development Corporation released Tuesday.
The study was commissioned by LA28, the private committee organizing the Games, and covers Los Angeles, Orange, Riverside, San Bernardino and Ventura counties.
The Los Angeles Times noted that projections for the Paris Olympics did not pan out.
The Numbers
The LAEDC counts $8.35 billion in infrastructure investment that has been accelerated or undertaken for the Games.
It projects 2 million out-of-region visitors spending between $1.6 billion and $4.3 billion in Los Angeles County, and $5.1 billion to $5.9 billion in combined federal, state and local tax revenue.
Nearly 80% of the projected jobs require a high school diploma or less.
Timeline
Los Angeles hosts the Summer Olympics for the first time.
Los Angeles hosts the Summer Games a second time.
The LAEDC releases its LA28-commissioned analysis projecting up to $40.6 billion in economic output and 224,000 jobs for the region.
Los Angeles hosts the Summer Olympics for the third time, and the Paralympic Games for the first time.
Reactions
The Los Angeles Times reported that the L.A.-based analysts behind the study say the Games will supercharge revenue, jobs and taxes for the region — while pointing out that the projections made for the Paris Olympics did not materialize.
The New York Post framed the findings as Los Angeles scoring "Olympic gold," with tens of billions of dollars injected into the local economy.
The wide range in the estimates comes from the LAEDC's use of two methods: a conservative model that tracks only new spending from outside the region, and an IMPLAN input-output model that measures broader gross activity.
What's Next
Infrastructure work tied to the Games includes Metro's "28 by 28" initiative, airport improvements, Long Beach's Elevate28 program and upgrades to the Los Angeles Convention Center.
Whether actual visitor numbers, spending and job creation land at the low or high end of the projected ranges remains uncertain.
The study was commissioned by LA28, and how that shaped its assumptions and conclusions has not been independently assessed.
More
Los Angeles will be the first Olympic host city since 1948 to build no new permanent venues, relying instead on existing stadiums and temporary facilities.
Poll
Do you believe the $40.6 billion projection for the LA Games?
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