LA28 Wednesday launched a plan to ensure 75% of contracts related to the Olympic Games go to business located in the greater Los Angeles region, with 25% specifically going toward small businesses.
The organizing committee is expected raise awareness of contract opportunities at upcoming events this year such as forums and planned activities. LA28 will be collaborating with the city and county of Los Angeles and other municipalities to expand its outreach and prepare businesses.
More information about Olympic-related business opportunities can be found through the Regional Alliance Marketplace for Procurement at RAMPLA.org. The website provides a search feature and displays LA28’s sourcing opportunities.
Business owners are encouraged to register with RAMP and review the website at least every two weeks to stay up-to-date on new requests for information and expressions of interest.
“Hosting the Olympic and Paralympic Games is a once-in-a-generation opportunity to invest in Los Angeles and strengthen the businesses that power our region,” LA28 CEO Reynold Hoover said in a statement. “This plan marks the foundation of our work to give clarity to local and small businesses so they can seize this moment. We look forward to working with leaders in communities touched by the Games to build a stronger economy for decades to come,” Hoover added.
To help LA28 reach its goal of providing 25% of its contracts to small businesses, the committee will partner with Intuit, a global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks and Mailchimp.
Intuit will work with LA28 to create a supplier readiness program for local businesses. It’s expect to provide business owners with access to resources, mentorship and other opportunities.
“Through this approach, we are demonstrating a significant commitment to community business and meaningful opportunities while collaborating with industry leaders to ensure they have the tools and support needed to participate,” said Erikk Aldridge, LA28 vice president of impact and legacy. “By making the process clear and accessible, we are helping more businesses compete for and benefit from opportunities connected to the Games.”