"When you put half a billion dollars into renovating what they're calling heritage Olympic venues, you're making the investment without having a good part of the investment ever have a chance to pay off," said Andrew Zimbalist, an economist at Smith College who studies public funding for large-scale sports projects. In addition to operating sport venues, the organization manages a state-funded convention center and three alpine ski areas in the Adirondack and Catskill Mountains.īut with the price tag for revitalizing the authority's venues on track to top $1 billion, some critics question whether Olympic sports and winter tourism are a smart bet for the region's economy. The Olympic authority is one of upstate New York's biggest employers, with roughly 1,500 seasonal and year-round employees. The goal, according to state officials, is to boost jobs and tourism. ![]() The state also spent an additional $46.5 million co-sponsoring the World University Games, a kind of mini-Olympics held in Lake Placid last January and contributed another $6.5 million to refurbish the main retail street of Lake Placid, a village of roughly 2,300 year-round residents. Mike Pratt at the re-opening of the remodeled Olympic Museum in Lake Placid.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |