New study says Boston Olympics could bring in billions
BOSTON - A report suggests Massachusetts could reap billions of dollars in economic activity if Boston is selected to host the 2024 Summer Olympics, but adds there are still many questions that cloud the forecast.
The study, released Wednesday by the Donohue Institute at the University of Massachusetts and the nonprofit Boston Foundation, analyzes initial budget plans drawn up by organizers of the city's Olympic bid.
The report estimates that $2.1 billion in Olympic construction activity would benefit Massachusetts firms, creating or supporting 24,000 jobs in the period leading up to the games. Other activities, including security and technology, could generate a $2.9 billion boost to in-state vendors.
But the study's authors stressed that Olympic planning is still in a preliminary stage and there remain potential risks, including the threat of cost overruns.