Vancouver's Olympic organizing committee is hoping to make up a $12-million shortfall by selling outdoor ad space to U.S. states. (Darryl Dyck/Canadian Press)

Vancouver's Olympic organizing committee is hoping sponsors south of the border can help make up a $12-million advertising shortfall.

The organizing committee, known as VANOC, announced Wednesday it has been unable to sell more than $12 million worth of outdoor advertising for the 2010 Winter Olympics.

Organizers said one plan to address the shortfall is to entice U.S. states to become Olympic investors.

Dave Guscott, the vice-president of partnerships for VANOC, said selling the Games in the United States shouldn't be difficult.

"Many of the states we've approached are very interested and it gives them limited rights to affiliate themselves as partners for the Games," he said.

"Most are interested in ways they can advance their destination for tourism, for economic development and their interest in sport."

A 'big deal' for U.S.

VANOC chief executive John Furlong said the U.S. views the Vancouver Olympics as a "home" event.

"It's a big deal for them and I think the idea of creating some kind of association is attractive for that reason because there is going to be a very big glow on this region of the world next February," he said.

Guscott said the rights afforded to U.S. investors wouldn't be as extensive as those given to the Canadian provinces that have aligned themselves with the Games.

During the bidding process for the 2010 Winter Games, VANOC promised the International Olympic Committee it would buy up all outdoor advertising around venues and main thoroughfares for a 10-week span during the Games.

VANOC took that one step further and bought up all outdoor ad space along a 190-kilometre stretch from Whistler to Abbotsford, B.C., at a cost of $40 million.

The ad space, including billboards and bus shelter posters, was to have been resold exclusively to Olympic sponsors.

However, VANOC said Wednesday it will offer its surplus stock to any company, whether it has an Olympic affiliation or not.

Meanwhile, the committee is also waiting for a $30-million payment from the IOC, which has yet to sign the final two international sponsors for the Games.

With files from The Canadian Press