ODA: 2012 the 'Regeneration Olympics'
2008-10-27
Already some £2 billion worth of work has been awarded to 650 companies to delive the 2012 Olympics, according to the Olympic Development Authority (ODA).According to John Armitt, ODA chairman, the Olympics will help stimulate the slowing economy and will be known as the "Regeneration Games".
Last week he told the Confederation of British Industry that £9.3 billion pounds could help the economy as well as create long-term benefits for east London.
"The public investment in the Games and the benefits this will bring in terms of new jobs, new homes, infrastructure and sporting venues is already boosting the UK economy," he said.
"Work on the Olympic Park is already providing employment and training to local and previously unemployed people and UK businesses are winning millions of pounds worth of 2012 work."
He said that at its peak, the project will employ 9,000 construction workers.
Tessa Jowell, secretary of state for culture, media and sport, echoed the sentiment later in the week, saying the Olympics "have become an economic stabilisation programme".
"It's £6 billion of investment in 75,000 contracts to firms all over Britain," she added.
