In the quadrennial competition to secure mega-events such as the Olympics and political conventions, the economic benefit to host cities is regularly flaunted. Carl Bialik looks at why big events may not mean big bucks for their host cities.
London can certainly brag about hosting a well run and memorable Olympics this summer, but according to several economic observers interviewed by Bialik, claims to "a long-term economic boost of anywhere from $20 billion to $26 billion for the U.K." are quite dubious. Ditto for the host committees for the Democratic and Republican conventions to be held this summer who are
expecting "Charlotte, N.C., and Tampa, Fla., each to benefit to the tune
of between $150 million and $200 million this year."
"Playing the role of party poopers are several economic observers who
have gone back to study tax receipts and other signs of extra activity
from earlier, similar mega-events, and generally haven't found much to
crow over," writes Bialik.
Predicting economic impacts is a notoriously inexact science, so projections should be given a measure of leeway. However looking backwards, notes Bialik, one study conducted by Robert A. Baade, an economist at Lake Forest College in Illinois, and colleagues, "agrees that these gains rarely
show up."
"The researchers studied 18 national political conventions
between 1972 and 2004, and found no statistically significant impact on
personal income or local employment when comparing host cities with
control cities that didn't host events."
FULL STORY: Why Mega-Events May Not Mean Mega-Bucks
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.