Olympic sports, businesses generate $215 million for local economy

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Olympic-related organizations and businesses pumped $215 million into the local economy and employed more than 2,100 people in the Pikes Peak region last year.

The U.S. Olympic Committee commissioned auditing giant Deloitte to conduct the research and released its findings today.

Key findings include:

  • The USOC and Olympic National Governing Bodies employ a combined 719 people in the region, provide an estimated $1.4 million in local tax revenue and $1.15 million in local property taxes. So, tax receipts last year totaled $4.9 million.
  • The USOC drew more than 13,000 athletes and staff to the Olympic Training Center, which provided an additional $15 million to the local economy in out-of-facility expenditures.
  • There are more than 90 total companies in the region’s sports sector, 50 of which conduct regular business with the USOC.
  • The Colorado Springs Convention and Visitors Bureau lists the USOTC sixth in its top-10 list of top El Paso County attractions. That rating is supported by the fact that the USOTC plays host to more than 78,000 out-of-town visitors per year with their impact accounting for $1.67 million in visitor spending.

“Part of our obligation to the people of Colorado Springs for their 30 years of support is ensuring that we’re making a positive impact in every way we can,” said CEO Scott Blackmun in a statement. ”This study allows us to quantify the positive economic impact that Olympic-related organizations have on the community and is a benchmark for us to use as we look to grow in the future.”

View the full report at www.TeamUSA.org.