Garcetti Says City Should Host 2024 Games
With news that the US Olympic Committee has canceled plans to nominate Boston as the US city in the running for the 2024 Olympics, Los Angeles has stepped up as a new contender. Just a few minutes after the USOC’s decision to cancel its Boston bid was announced, Los Angeles’ Mayor Eric Garcetti issued a statement saying, “I continue to believe that Los Angeles is the ideal Olympic city,” the Wall Street Journal reports. The Journal notes that nominating Los Angeles as a host city is a move also supported by top California leaders including Gov. Jerry Brown. In another notable contrast, according to a recent poll 75% of Los Angeles-area residents are in favor of hosting the 2024 Games, in contrast to the 42% of Bostonians who supported hosting the games in Boston.
What Happens Next
The AP reports that on Monday US Olympic Committee CEO Scott Blackmun said the group is still hoping to find a nominee host city for the 2024 games. September 15 is the deadline for the USOC “to officially name its candidate,” and right now Los Angeles may be “the best possible substitute.” Other possible contender cities include San Francisco and Washington, though the AP describes them as less likely. However, until the September deadline, it’s unclear whether or not Los Angeles will even reach the initial stage of the nomination process.
What This Means For Small Businesses
Los Angeles small business owners are likely to have many questions about the potential impacts of a bid and hosting of an international event like the Olympics on the city and on their businesses. Potential concerns for the small business community include transportation issues that could arise as a result of increased activity leading up to and during such an event, as well as potential increases in city and state taxes to pay the steep costs of hosting a major global sporting event that would be passed on to local business owners. However, there could be economic benefits both for the city of Los Angeles and small business owners in the area, who may see increased consumer spending in the days leading up to the event, as well as during the games themselves.
Additional Reading
USA Today is among the additional outlets covering Los Angeles’ new bid.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.
