While
it is commendable that the Senate and House passed the America's Cup
Act of 2011, I still question the need for the bill. This created a
loophole in the Jones Act of 1920 and sets a precedent for every on the
water sporting event to be held in the future. It will effect any boat
race, power or sail, held in U.S. Waters. The America's Cup World Series
Events and the America's Cup Challenge are very big events. The
question now is, are they going to write new bills into law for the
small events held in Florida, California, Washington and New England
that draw international teams?
Here is the Press Release from the America's Cup Race Authority:
America’s Cup Event Authority today issued the following statement on the America’s Cup Act of 2011:
Saturday, 05 November 2011
“We applaud the members of the U.S. Senate and U.S. House of
Representatives who voted overwhelmingly in support of the America’s Cup
Act of 2011,” said Craig Thompson, Chief Executive Officer, America’s
Cup Event Authority. “This Act enables our international field of
America’s Cup teams to participate in the only global sporting event
currently committed to come to the United States in the next decade.”
The upcoming America’s Cup events in Newport, Rhode Island, San Francisco and San Diego, California are predicted to create thousands of jobs and over $1 billion in economic impact over the next two years. For the first time in history, the America’s Cup will be able to be seen from shore, creating tremendous public access for spectators as well as drawing large spectator crowds to benefit the port cities hosting America’s Cup events.
“We are very proud that our host cities of San Diego, San Francisco, and Newport, Rhode Island will benefit greatly from hosting America’s Cup events,” said Thompson. “We are working closely with the cities of San Diego, San Francisco, and Newport, Rhode Island to maximize this economic impact.”
Third party sources estimate a $20-million economic impact to San Diego from the event to be staged November 12-20, 2011, with an estimated $72-million economic benefit to Newport, Rhode Island, which will be held in June 2012. Additionally, the America’s Cup is predicted to deliver an estimated over $1 billion economic impact to the San Francisco Bay area, with more than 8,500 jobs that will be created due to the America’s Cup.
The 34th America’s Cup is the oldest trophy in modern sport and continues to build upon its rich heritage of leading-edge innovation with an event that is designed to showcase the best sailors in the world on the fastest boats.
The upcoming America’s Cup events in Newport, Rhode Island, San Francisco and San Diego, California are predicted to create thousands of jobs and over $1 billion in economic impact over the next two years. For the first time in history, the America’s Cup will be able to be seen from shore, creating tremendous public access for spectators as well as drawing large spectator crowds to benefit the port cities hosting America’s Cup events.
“We are very proud that our host cities of San Diego, San Francisco, and Newport, Rhode Island will benefit greatly from hosting America’s Cup events,” said Thompson. “We are working closely with the cities of San Diego, San Francisco, and Newport, Rhode Island to maximize this economic impact.”
Third party sources estimate a $20-million economic impact to San Diego from the event to be staged November 12-20, 2011, with an estimated $72-million economic benefit to Newport, Rhode Island, which will be held in June 2012. Additionally, the America’s Cup is predicted to deliver an estimated over $1 billion economic impact to the San Francisco Bay area, with more than 8,500 jobs that will be created due to the America’s Cup.
The 34th America’s Cup is the oldest trophy in modern sport and continues to build upon its rich heritage of leading-edge innovation with an event that is designed to showcase the best sailors in the world on the fastest boats.
No comments:
Post a Comment