Olympics Not a Money Loser, But a Major Development Catalyst
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A rendering of the 65,000-seat Olympic Stadium in Widett Circle.
BOSTON—An updated plan for the Boston 2024 Olympic and Paralympic Games released on Monday projects that the $4.595-billion event could have a surplus of $210 million if revenue estimates are accurate.
The Boston 2024 Partnership released its updated Bid 2.0 plan at the Boston Convention and Exhibition Center that provided more detail to the city’s controversial bid for the Olympic Games. The bid would involve the construction of millions of square feet of new development in the city, including a temporary 65,000-seat stadium to be built at Widett Circle, 8,000 units of housing, as well as office and hotel space. The project would create 4,100 full-time construction jobs between 2018-2013 and would employ 54,300 workers in 2024. Another 2,200 positions are expected to be created in the construction, retail, maintenance and hotel sectors in 2025 and beyond…
Olympics Not a Money Loser, But a Major Development Catalyst
