Published June 2004

2010 Olympics: Let’s
bring home the gold

Keeping an eye on the future is a way of life here at the Economic Development Council, allowing us to be ready to take advantage of worthy opportunities as they arise. We see a potential gold mine for Snohomish County and Washington state in the 2010 Winter Olympic and Paralympic Games to be hosted by Vancouver, British Columbia. It is not too early to position yourself now to benefit from the Games and bring home the gold.

A future event of this magnitude requires rigorous planning and preparation to meet the needs of thousands of international visitors before, during and after. It will entail the construction of new venues, the renovation of existing facilities and all the people and supplies needed to make that happen — the building materials, hockey pucks, uniforms, paper towels and hot dog buns.

The 2010 Winter Games will generate jobs in British Columbia, yes, but history has shown that such events can also greatly affect adjacent vicinities, creating trade, investment and employment opportunities across a wide range of industries — including construction, tourism, transportation, technology and services.

British Columbia aims to translate the 39 days of the Olympic and Paralympic Games into three decades of trade and investment opportunities, and there is no reason why we can’t share in this vision. In addition to being a celebration of international excellence in sport, the Games offer an opportunity without match to expand trade relationships and attract new investment.

Reportedly 29 percent of all visitors to the Games attend on behalf of their corporations. Businesses and communities that are in place to reap the benefits of the neighboring Games could have access to this large and lucrative market.

The Olympic partners are working on a clear and transparent procurement strategy. Australia’s procurement program serves as an excellent model. It includes a centralized purchasing database providing businesses with up-to-date information about tenders and related opportunities. The British Columbia model, intended to be a single information source, will allow businesses to pre-qualify for pursuing opportunities. It is scheduled for release by the end of 2004.

Even before the direct business opportunities are posted, you can take the initiative and begin planning for your success in this venture. You can perform research on Olympic supply, identify product and business capabilities, and look for innovation opportunities. Form or strengthen alliances with product and service providers and develop relationships with Olympic partners, sponsors and licensees.

Get some Olympic experience. Businesses that are accepted as suppliers to the upcoming Games in Athens, Torino and Beijing have a much better chance of being selected as suppliers in 2010. These suppliers are also more likely to benefit after the Games.

Being in close proximity to the 2010 Games will provide us with a great opportunity for visibility in a number of marketplaces, including business development and tourism. That visibility could result in increased business recruitment, more jobs and more visitors to our area.

The real impact to the visitor industry may be the several years after the Games as people from around the world decide to visit the Pacific Northwest after watching the Games on TV. Our ability to take advantage of media attention could have a great effect on our visitor numbers, both national and international, and our preparedness for them.

The Olympic Games have historically had a very positive economic effect on the participating city and often its neighbors. Gleaning valuable data from the experience of other states that are contiguous to former Olympic Games sites can help you in formulating strategies for capitalizing on this event.

Based on past experience, for example, several areas of Washington are likely to serve as training venues for Olympic teams prior to 2010. We can certainly expect increased traffic up I-5 and at Sea-Tac airport and probably in other transportation options, too.

The 2002 Olympic Winter Games in Salt Lake City resulted in $100 million in tourism revenue to nearby Boise, Idaho. The state of Washington believes it can expect a similar impact through the 2010 Games here. But we must be prepared and willing to take advantage of the opportunities.

Soon you will have a chance to learn firsthand about the possibilities surrounding an Olympic Games. The EDC, in partnership with the Snohomish County Tourism Bureau, will present Idaho State Travel Director Carl Wilgus as the keynote speaker at the EDC quarterly economic update luncheon on June 16 from 11:45 a.m. to 1 p.m. at the Embassy Suites in Lynnwood. Come discover what Idaho did to benefit from the 2002 Olympics in Salt Lake City and more. Now is the time to plan for a golden future.

Deborah Knutson is president of the Snohomish County Economic Development Council. She can be reached at 425-743-4567 or by e-mail to dknutson@snoedc.org.

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