When I first glanced at the headline, I thought this might be a report about how the International University Sports Federation (FISU) Winter World University Games had been a roaring success.

But underneath the headline is a picture of Main Street - a street normally bustling with people over the Martin Luther King Jr holiday weekend - looking unusually quiet.

The story then reports how business owners had been experiencing a lack of sales since Main Street had been closed for vehicle access on January 12.

It is believed to be the first time the street has been shut in 43 years when it last hosted the Winter Olympics and was done as part of a 10-day festival to celebrate the staging of the Winter World University Games that ends today.

But the decision that was made for safety reasons appears to have had an adverse effect on some store and restaurant owners who are reporting lower-than-expected numbers in trade.

"We were all told how the Games were going to have such a positive economic impact to the area, yet to it appears to be a complete failure economic-wise," one business owner told the Adirondack Daily Enterprise.

Other people I have met here during my time in Lake Placid had also spoken of the inconvenience of the street closure.

However, this was cancelled out by the optimism of what the future holds for the village after receiving a major investment from the New York State to prepare for the FISU Winter World University Games.

There is a feeling that the long-term gains will be greater than any short-term pain suffered by any businesses following the regeneration of the village’s tiring sporting infrastructure and I believe that will be the case.

More than $550 million (£444 million/€507 million) has been to spent to revamp venues that staged the 1932 and 1980 Winter Olympics.

"Like with anyone, if they see all the money being spent on the venues, they are like 'wait a minute'," Rick Preston, a councillor for the Town of North Elba, told insidethegames.

"But they forget that they live here for a reason.

"Sport is what we do.

"I believe a recent study was done on the future of Lake Placid and currently upwards of 90 per cent of our business is tourism which is sport."

Lake Placid is proud of its Olympic history as it boasts about staging two Games on signs as you enter the village in the beautiful Adirondack Mountains.

It is well known for the "Miracle on Ice" when the United States’ men’s ice hockey team went against all the odds to defeat the powerhouse Soviet Union side to book their place in the gold-medal match at the 1980 Winter Olympics.

But Lake Placid is determined to be the stage of more miracles on ice and snow and not simply remembered for what it once had.

"This was really do or die for us," Lake Placid Mayor Art Devlin, whose father was vice-president on the Lake Placid 1980 Organising Committee, told insidethegames.

"We either faded into the sunset or we came back and with the investment from the State we are here for the next 30 years at least.

"We held a lot of events but when you stop having the athletes train here and you don’t meet the standards anymore you are quietly on the way out.

"But fortunately with this investment that’s no longer the case.

"Our industry here is tourism and without that we would be a sleepy little village so to be able to have our venues viable and used in World Cups, for training and other future events it keeps our economy going.

"It’s very important."

As part of the six-year capital investment, $104 million (£83.8 million/€95.6 million) was used to modernise the Olympic Center - the venue of the "Miracle on Ice".

Mount van Hoevenberg also received a $74 million (£59.7 million/€68 million) upgrade that included the creation of the Mountain Pass Lodge - a three-storey building featuring dining areas, gifts shops, meeting rooms and space for a media centre.

Other investments include the improvement of ski lifts and snowmaking machines at Whiteface Mountain and Gore Mountain and the regeneration of the Olympic Jumping Complex that is now certified for staging international competition throughout the year.

The Olympic Regional Development Authority (ORDA), which was in charge of the revamp of all the venues for Lake Placid 2023, believe the improvements will bring athletes and events to the region for "decades to come".

Mike Pratt, President and chief executive of ORDA, claimed that Lake Placid’s sporting facilities were already "in demand" following the regeneration.

Lake Placid is set to stage the first International Ski and Snowboard Federation Ski Jumping World Cup in North America in 21 years when it plays host next month.

It is also due to hold the World Synchronised Skating Championships in March and has been awarded the hosting rights for the 2025 International Bobsleigh and Skeleton Federation World Championships and the 2026 International Biathlon Union Cup.

"We have a lot of prestigious events coming up, not only for the rest of this year but future years," said Pratt.

"It’s what we do and we are excited to be a part of this and we are looking forward to hosting more events."

Devlin has also revealed that talks are underway over a possible bid for the Winter Youth Olympics and admitted that being part of a potential state-wide New York Winter Olympics in the future would "certainly be of interest".

"Basically, we are set for anything," said Devlin.

While there are big ambitions to stage events, they will not be able to hold them without the support of volunteers.

Lake Placid is set to reform a Sports Council more than four decades after it was first launched.

The group is due to consist of a five-person Executive Board as well as 10 additional members.

Preston felt that event "fatigue" had set in among locals and said the Sports Council would help to reenergise people.

"It was a Council that was activated after the 1980 Olympics to help with events," said Preston.

"When ORDA came along, they took over all of that but we are finding that residents are not as receptive to ORDA so there needs to be local foundation for volunteers that can get people excited about events like this.

"It has just been reformed now.

"We are hoping that as we get more events with our venue upgrades that we will get input, more volunteers and more enthusiasm from the locals.

"I am optimistic that will happen."

Over the course of the 10 days of competition, there has also been an increase in crowds, with the Games enjoying some sell-out crowds including the men’s ice hockey gold-medal match between Canada and the US at the Olympic Center.

Lake Placid 2023 executive director Ashley Walden said organisers had been "concerned" about the lack of ticket sales before the Games but had "exceeded expectations" by the end of the event.

Although businesses reportedly struggled to cash in on the staging of the Games, the event has reaffirmed Lake Placid’s place on the sporting map and there is no doubt that more top tournaments will be heading to upstate New York over the coming years.