As cities compete for jobs and capital in the context of limited federal aid and increasing global economic competition, a new and potentially high-risk public policy strategy for stimulating local economic growth has emerged. This megaevent strategy entails the quest for a high-profile event to serve as a stimulus to, and justification for, local development. How and why do American cities commit their resources to seeking a mega-event? And, if a city lands a megaevent, how does that event affect local development policy? To address these questions, we examine the experiences of three American cities which have bid for and organized the Olympics in the contemporary era: Los Angeles, Atlanta, and Salt Lake City.