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.”
Monica is the PR contact for Stark Insider, and helps with calendaring, coordinating SI video shoots, and assisting with inquiries. monica (at)