The 2028 Summer Olympics and Paralympics in Los Angeles are projected to generate tens of billions of dollars in economic output, according to a new report released Wednesday by the LA28 Organizing Committee.

The report was prepared by the Los Angeles County Economic Development Corp. and examines the projected economic impact of both the Olympic and Paralympic Games. Organizers said the findings point to significant economic activity associated with hosting the international events.

The initial release did not provide a detailed breakdown of the projected economic output or specify how much would be generated by the Olympics compared with the Paralympics.

Los Angeles is preparing for its third Olympic Games after previously hosting the Summer Olympics in 1932 and 1984. Venue upgrades and other infrastructure projects are already underway ahead of the 2028 Games.

The Olympics are scheduled to take place in Los Angeles in 2028, with the Paralympic Games following later in the summer. The economic projections come as organizers and local officials continue preparations for the multi-week international sporting events.