Quote:
Originally Posted by Senator Clay Davis
The world is so much different now from 2008, or 1998, let alone 1988 (or 1981 when the bid was accepted). The Olympic boost here is minimal at best because in order for the finances of the Olympics to work anymore, it's gotta be a poverty games. So the days of bid spending on big projects is over (unless you're living in a dictatorship), because it's political suicide to do so. It's funny cause I can buy into a high risk project if the reward is worth it. The rewards from hosting the Olympics are staggeringly overstated by it's proponents. Because, once again, if the rewards were so robust, why is the IOC staring at zero bids this time next Wednesday?
The Olympics are effectively a construction project, and like a lot of construction projects when it's done there might be a handful of permanent jobs created, but not all that many. There seems to be this utterly insane notion that somehow hosting the Olympics is going to bring new companies and industries to town, but I'm guessing even the proponents of such a take know that's a lie. If there's any economic recovery between now and 2026, the Olympics are likely to have little to nothing to do with it. More to the point, if that's what we're relying on to save us economically....we're already ####ed.
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I am not voting yes because I want permanent jobs when everything is said and done. I am optimistic that Trans Mtn is rolling along at that point creating the much needed permanent jobs.
I also do not believe it is bringing new companies or industry to town.
I do believe that a bid will create a ton of temporary jobs and help lift the economy in the short term until the local O&G sector is carrying this province as it so often does. When things are moving full speed, that is when we look at bringing in other industry. Show them the fancy city with low vacancy, new infrastructure, etc and diversify for the next O&G downturn.
Again, without the olympics, what helps get this city out of the the ugliest years it has seen in decades?
While not to scale, I would rather pay $5 a day for the next 5 years to host the olympics than pay $1 a day this year, $2 a day next year, $4 a day the year after that, $8 a day the year after that, etc.
That is exactly what will happen to our taxes until "something" turns the economy around and with absolutely nothing else in the short term expected to help the economy, I have to roll the dice on the only opportunity presenting itself.