Los Angeles prepares economic strategies for 2028 Olympic Games

Los Angeles officials have released new frameworks and programs aimed at maximizing the economic benefits of the 2028 Olympic and Paralympic Games for local communities and small businesses.

A report from the Los Angeles County Department of Economic Opportunity and the Chief Executive Office estimates the 2028 Games will generate more than $13 billion in direct spending, resulting in $19.2 billion in total economic output and supporting over 88,000 jobs between 2024 and 2028. The framework seeks to ensure community inclusion and mitigate negative impacts while leveraging lessons from previous host cities.

To support local commerce, the City of Los Angeles has expanded its Contract Financing program. This initiative, a public-private partnership with Banc of California, helps small businesses secure the upfront capital required to fulfill government contracts and those tied to upcoming major sports and entertainment events. Mayor Karen Bass stated the expansion aims to ensure local businesses can compete for the significant economic opportunities expected surrounding the 2028 Games.