£175 million Olympic legacy for West Sussex

THE Olympic legacy is set to bring a £1.2 billion boost to the southern counties.

And in West Sussex alone, the county could benefit to the tune of £175 million.

The nation as a whole is estimated to receive a £13 billion Olympic economic legacy, say accountants and business advisers James Cowper.

Mike Farwell, business services partner at James Cowper, said: “Sustained investment and an unswerving focus on the best outcome have brought the greatest haul of medals for Team GB in 104 years.

“With a similar sense of purpose and consistent approach, counties across the region can now achieve some swift moves up the economic league table.”

And he added: “The overall figure could be even higher if you also take into account the much discussed feel-good factor and new impetus for volunteering.”

Looking specifically at counties in Southern England James Cowper estimates that the legacy could bring the following economic boosts:

West Sussex £175m; Oxfordshire £130m; Bucks £160m ; Dorset £150m; Hants £400m; Berks £185m.

James Cowper’s calculations, they say, are based on the Prime Minister’s statement at the beginning of July that he was confident the Games would benefit the UK economy to the tune of £13 billion over the next four years.

The firm’s estimates take into account population size, with the benefits amassed from export orders, inward investment and an upsurge in tourism.

Mike said: “Throughout the last fortnight there has been a huge amount of pride and satisfaction in what can be achieved through individual and collective efforts.

“The Games have been an enormously successful UK marketing campaign and my advice to businesses is to take confidence from this and urgently consider how they can harness the Olympic momentum.”

James Cowper has offices in Newbury, Oxford, Reading, Southampton, Henley and London. It advises a diverse range of businesses and private tax clients, ranging from start-up ventures to blue chip plcs and private individuals.