Sebastian Coe has praised Yorkshire's companies for getting behind the 2012 Games before many other regions but urged more businesses to take advantage of the wide ranging opportunities created by the event.
Speaking recently at the Yorkshire Gold Business Club conference in Bradford, Lord Coe said that 28 Yorkshire businesses had already won contracts to work on various aspects of the Olympic preparations.
A further 99 have won supply chain contracts.
Lord Coe, chairman of the London Organising Committee of the Olympic Games and Paralympic Games (LOCOG), said that the opportunies available were worth up to £700m.
Outlining the opportunities for businesses to win tenders, Lord Coe said the complexity of preparations for the Games meant there were many chances to secure contracts.
"That is a massive opportunity," said Lord Coe, who added that firms who win work would be well placed to work on major sporting events in the future.