Organisers of the London 2012 Olympic Games have today sought to allay fears that only businesses in the capital will benefit from the event.
Government ministers, business groups and Games bosses met in east London this morning at a special summit in an attempt to generate interest at the start of the process for handing out Olympics-related contracts.
Around £3.2bn worth of deals are available and organisers are keen to stress that while firms in the capital will naturally profit as a result, businesses outside London can also reap the rewards.
Opening the conference, culture secretary Tessa Jowell said: "Today's summit signals our determination to ensure the economic benefits from the Games are maximised for all UK based businesses and workers.
"We…want to ensure that the public money spent on the Games is recycled into the British economy wherever possible to the benefit of British based companies and the people working in them."
Summit delegates also heard from London mayor Ken Livingstone.
"The 'Olympic effect' should not be underestimated and I want businesses around London and the UK to benefit from the opportunities that hosting the Games will bring", he said.
"Now, through my London Development Agency, we are investing in programmes to ensure that medium and small businesses are well positioned to compete for the work that needs to be done."
In an interview with the Financial Times, Jowell indicated that companies with good employment practices would have an advantage in bidding for Olympics contracts.
The minister said a framework is currently being created which authorities will implement for public sector work, and encourage private sector contractors to follow.
Among the other announcements at today's conference, Sir Keith Mills, deputy chairman of the London Organising Committee of the Olympic Games (LOCOG) unveiled key "milestone" dates.
He confirmed the recruitment of volunteers to help run the Games will begin in 2010 while the first tickets will go on sale in 2011.
Mills added that the Olympic Games opening ceremony is due to take place on 27 July 2012 and the Paralympics will begin on 9 August 2012.
