| THE 21ST WINTER OLYMPICS WHEN: Feb. 12 – March 21, 2010 WHERE: Vancouver, British Columbia, Canada COST: $6.4 billion PARTNERS/EXPENDITURES*: VANOC (VANCOUVER ORGANIZING COMMITTEE): $1.88 billion operating budget (included $600 million for Olympic venue construction); International Olympic Committee contributed $480 million GOVERNMENT OF CANADA: $1.25 billion (included $290 million that went to VANOC for venue construction; $684 million for security and essential federal services; $55 million for a legacy trust fund to keep venues operating post-Olympics; $20 million for celebration sites, $35 million in administrative costs, etc.) PROVINCE OF BRITISH COLUMBIA: $765 million ($290 million to VANOC for venue construction; $87.5 million for security; $165 million in infrastructure costs related to new security arrangements; $6 million for fire and public safety; $5.6 million for municipal services; $19.6 million for “Live sites”; $55 million endowment to keep venues operating post-Olympics, etc.) CITY OF VANCOUVER: $554 million ($524 million capital, i.e., venue construction, infrastructure improvements, athlete/residential housing, prepping civic facilities, etc.; $30 million operational, i.e., Olympic legacy reserve initiatives and Olympic support including planning and executing the city's participation during the games, and games-related transportation, sanitation, and snow-removal services.) RESORT MUNICIPALITY OF WHISTLER: $6 million (included $226,000 for games-related operations, $998,000 for celebration sites, etc.) CANADIAN OLYMPIC COMMITTEE: n/a CANADIAN PARALYMPIC COMMITTEE: n/a TAX REVENUES: Provincial: $99 million to $116 million; Federal: $104 million to $121 million OLYMPICS-GENERATED GDP: Provincial: $2.1 billion to $2.6 billion; Federal: $2.6 billion to $3.1 billion *Expenditures will not add up to the total Olympic cost, due to in-kind donations and other funding from third parties. To read full financial reports and learn more about the economic impact of the 2010 Olympic Games on British Columbia and Canada, go to the B.C. Ministry of Finance Olympics page here. |