San Francisco: America’s Cup could bring $1.4B economic benefits and 8,800 jobs

    The 34th edition of the event will feature 72-foot, wing-sailed catamarans.

    America's Cup

    America's Cup

    Good times ahoy! San Francisco will bring the beautiful vistas, and America’s Cup will bring the mini-boom. According to city officials, Friday’s announcement that the city will host the race in 2013 could mean up to $1.4 billion in economic benefits and the creation of approximately 8,800 jobs.

    The 34th edition of the event will feature 72-foot, wing-sailed catamarans.

    However, it’s worth noting that according to a budget analysis published by the city, hosting the Cup “would have a direct fiscal benefit to the City and County of San Francisco of $19.5 million in additional tax revenues, including Hotel, Payroll, Parking and Sales Tax revenues, which would accrue directly to the City’s treasury.”

    Ultimately in the short-term it will cost the city $11 million to host the event, due to an estimated $31 million in expenses.

    The majority of costs associated with hosting per the Event Authority would be required to make infrastructure improvements to Piers 30-32, 27, and 29 and “all other facilities as deemed appropriate by the Event Authority.”
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    • Gregory

      If I wanted to develop a web site, e.g. sfamericacup.info would this be viable? Hoping to steer some of the speculated revenue to bay area business’s.