2002 Winter Games Turn Profit In Utah

None by Eric Ray

(KCPW News) The Salt Lake 2002 Olympics turned a profit of $100 million according to a report from the Vancouver Olympic Organizing Committee. The report says the games were a financial success despite the recession faced by the U.S. economy at the time.

James Wood, Senior Economist for the Bureau of Economic Research at the University of Utah, says in a $90 billion economy, a $100 million contribution to Utah is fairly minimal. However, Wood says the exposure and civic pride generated by the games is just as important as profits.

The report says $435 million was invested in construction projects for the games. Jobs created by the Olympics produced an extra $1.5 billion in income.

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