News Release
Utah’s Olympic venues contribute to the state’s economy and community benefits, report finds
July 17, 2024 (Salt Lake City) – The Utah Olympic Legacy Foundation (UOLF) preserves Utah’s living Olympic legacy by managing three world-class, multiuse Olympic venues (the Utah Olympic Oval, Utah Olympic Park, and Soldier Hollow Nordic Center) as well as Park City Ski and Snowboard (PCSS). A new report from the Kem C. Gardner Policy Institute shows that UOLF, combined with visitor spending at the venues, annually contributes an estimated 1,045 jobs, $78 million in GDP, and approximately $132 million in output (total intermediate and final industry sales) from direct, indirect, and induced economic contributions.
“UOLF’s economic contribution comes not only from the organization’s spending and visitor spending at the Olympic venues but also from the economic activity resulting from this spending,” said Nate Lloyd, director of economic research at the Gardner Institute. “Beyond its economic contribution, UOLF promotes healthy lifestyles and helps meet community needs by offering an array of recreation opportunities for all ages and abilities – not just for elite athletes.”
Key findings from the report include the following:
Robust economic contribution – Annual spending by UOLF and visitors to the three primary Olympic venues contributes an estimated 1,045 jobs, $78 million in GDP, and $132 million in output (industry sales) from direct, indirect, and induced economic contributions.
Readiness for the 2034 Olympic and Paralympic Winter Games – UOLF keeps Utah’s Olympic legacy alive by maintaining and improving the three primary Olympic venues and promoting Utah as a destination for national and international athletes, delegates, and tourists.
Out-of-state visitors – UOLF hosts over 90,000 out-of-state visitors annually, including athletes, spectators, and the general public. Athletes train at the venues and compete in international, national, and regional competitions.
Home to world-class events and training – UOLF’s facilities have hosted over 250 international winter sport competitions since 2002 and provided over 140,000 total athlete training days in FY23.
Visitor spending – Visitors to the three primary Olympic venues spent an estimated $11.9 million in fiscal year 2023. Significant portions of this spending are on accommodations, local transportation, food services, arts, entertainment, and recreation.
UOLF sources and uses of funds – UOLF relies on revenue from operations, sponsorships, donations, grants, and Legacy Fund earnings to cover operating expenses. State appropriations to UOLF, averaging $14.3 million annually in the last six years, are not used to cover operating expenses but help fund nearly all capital expenditures.
Community benefits – Community events, sports programs, and volunteer opportunities help to provide long-term individual and societal benefits to Utah communities. The Olympic and Paralympic venues serve as both official training centers and community event and recreation centers.
“The Utah Olympic Legacy Foundation’s impact on Utah’s economy and its local regions is far-reaching in providing both financial and community benefits for the state,” Utah Olympic Legacy Foundation President and CEO Colin Hilton said. “Our facilities are vibrant sources of recreation and inspiration for Utahns of all ages and visitors alike.”