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``Augusta is a little too far away," -- Jeffrey M. Humphreys, Georgia Economic Forecasting Project director Related Articles |
Olympics bring few dollars to Augusta
By Mike Wynn and Clint Engel When the world goes to Atlanta for the 1996 Olympics, it will make only a token appearance in Augusta.
Although only a little more than two hours from Atlanta on Interstate 20, Augusta is still too far away to get more than a modest portion of the financial windfall expected from the state's first Olympic Games, say state economic experts.
The Games are expected to pump about $3.5 billion into the state's economy and create about 85,000 new jobs.
``Augusta is a little too far away to expect to get anything more than the people who stop on their way to and from the games,'' said Jeffrey M. Humphreys, director of the Georgia Economic Forecasting Project.
The major winners in the Olympic sweepstakes are Atlanta and Savannah, which will be the site of the Games' yachting events.
Savannah's Olympic bid included building an 286-unit condominium complex next to the Sheraton Savannah Resort on Wilmington Island and a $3 million Olympic Harbor on Skidaway Island.
The Olympic committee visited Augusta in early 1989, and even considered using the Savannah River for rowing events. But the river wasn't wide enough to accommodate all the lanes that would be needed.
Bids for golf, table tennis, cycling, volleyball and softball were also unsuccessful.
Economically, it was unfortunate that Augusta wasn't chosen as an Olympic venue. Mr. Humphreys said the Olympics will have a direct impact of $1.6 billion on Atlanta's and Savannah's economies.
That leaves $1.9 billion in indirect economic activity that will be generated throughout the rest of the state, Mr. Humphreys said. About 675,000 out-of-state visitors are expected to come to Georgia during the two weeks of the Olympics, according to a study by Mr. Humphreys's office. Those visitors are expected to spend:
- $213 million on meals.
- $157 million on transportation.
- $102 million on lodging.
- $86 million on souvenirs and miscellaneous items.
But because of the massive amount of money and publicity the Olympics will produce, everyone has tried to get a piece of the pie, Mr. Humphreys said.
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