ALL NEWS

Economic impact of a 2030 Olympics in Utah? Dollars and jobs!

May 24, 2022, 3:26 PM
2030 Olympics in Utah...
The Olympic Cauldron burns again, marking the 20-year anniversary of the Salt Lake 2002 Olympics opening ceremony at Rice-Eccles Stadium at the University of Utah in Salt Lake City on Tuesday, Feb. 8, 2022. Scott G Winterton, Deseret News

Courtesy of Salt lake 2030

SALT LAKE CITY — What would it mean, financially, to host the 203o Olympics in Utah?  

To find out, the Kem C. Gardner Policy Institute at the University of Utah conducted a study on the economic impact. It was requested by Salt Lake 2030, the organizing group hoping to bring the winter games back to Utah.

Related: Utah Olympic organizers moving forward on next Winter Games bid

“A lot of money comes from outside the state to put on the games, and that money turns into jobs and income for Utahns,” said Kem C. Gardner Policy Institute Director, Natalie Gochnour. She joined KSL at Night this week to talk about her experience studying the impact of the games in 2002 and the possible 2030 Olympics in Utah.

“Because we already have a bobsled, luge, speedskating oval, Rice Eccles Stadium, Vivint Arena – all of these things it takes to put on the games – it makes it so we have far fewer expenditures,” Gochnour said.

“But we still get the economic impact from hosting the games, from all the visitors that come to the games, and really the reputation that it builds for our state.”

How big of an impact would the 2030 Olympics in Utah have?

“We estimate that these games will have a $3.9 billion impact in terms of total economic impact and 30,000 job-years of employment. So there is a build-up, but if you had to express it in one number, it’s 30,000 job years of employment. About $1.5 billion in personal income to our state.”

(Note, a job year is defined as one year of work for one person.)

Of course, there is a cost to putting on the games. “There is a cost to this,” Gochnour said, “so we have to estimate how much does it cost us to have the games. From that, we’re able to estimate that we will have a net gain in state and local tax revenue.”

Related: Another Utah Olympic bid? Not a matter of “if” but “when”

According to the report, the 2030 Games in Utah would require $23.1 million in capital investments. These include improvements to the sliding track, a new equipment maintenance building, renovation to the Nordic lift, and a sports turf field for Nordic flats at the Utah Olympic Park.

Capital investments for the 2030 Games in Utah also include ski trails, parking and road improvements, and course lighting at Soldier Hollow.

The most important part

Even with all of that revenue to both government and private entities, the money isn’t the best part, according to Gochnour.

“When I watched the 2002 Olympics, and as I study what a 2030 games would look like, bar none I think the most important impact is what it does to a community to unite it, to bring it together, to get better in every way.

Related: Utah Olympic organizers to visit Beijing despite call for boycott

“When you’re hosting an event of this magnitude, the 2002 Winter Olympics Opening Ceremony had a viewing audience of over 1.2 billion people around the world, and they were focused on the University of Utah campus, on Rice Eccles Stadium. So, when the spotlight is that bright, it forces you to get better in every way.”

 

 

Today’s Top Stories

All News

Utah disaster funding earthquake study...
Simone Seikaly

What Utah can expect from federal funding after a disaster like Ian

What can those in Utah expect from federal disaster funding when a natural disaster on par with Hurricane Ian hits home?
7 hours ago
Special Olympics Unified soccer teams compete for championship....
Waverly Golden

Special Olympics Unified soccer teams compete for state championship title

This afternoon Utah’s top 16 Special Olympics Unified soccer teams competed for the state championship title at the RSL soccer stadium.
7 hours ago
A surface-to-surface missile is fired into the sea off the east coast in this handout picture provi...
Yoonjung Seo, Caitlin Hu, Eric Cheung and Brad Lendon, CNN

US and South Korea test-fire missiles in continued response after North Korea launch

In response to a recent test missile launch by North Korea, the US and South Korea launched four missiles off the Korean Peninsula Wednesday morning.
7 hours ago
Deputies with the Duchesne County Sheriff's Office are investigating a new scam to hit the area and...
Mark Jones

New scam in Duchesne County includes threat on life of a family member

Authorities in Duchesne County are warning people to be on the lookout for a new scam in which a caller threatens to kill a family member if certain financial information isn't provided.
1 day ago
Gov. Spencer Cox appointed John D. Luthy to the Utah State Court of Appeals on Tuesday....
Mark Jones

Gov. Cox appoints John Luthy to the Utah State Court of Appeals

Cache County Attorney John Luthy has been appointed by Gov. Spencer Cox to serve on the Utah State Court of Appeals. Luthy has been practicing law since 2003.
1 day ago
Police in Tooele are looking for an armed robbery suspect that forced three schools into lockdown o...
Mark Jones

Three schools in Tooele went into lockdown Tuesday afternoon

An armed robbery suspect caused three schools in Tooele to go into lockdown on Tuesday afternoon. The lockdown was lifted at the end of the school day. The suspect is still being sought.
1 day ago

Sponsored Articles

Young woman receiving laser treatment...
Form Derm Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
large group of friends tohether in a park having fun...
BYU MBA at the Marriott School of Business

What differentiates BYU’s MBA program from other MBA programs

Commitment to service is at the heart of BYU’s MBA program, which makes it stand out among other MBA programs across the country.
a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Economic impact of a 2030 Olympics in Utah? Dollars and jobs!