The America’s Cup Event Authority today came with the following statement on the America’s Cup Act of 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.”

34th America´s Cup - San Francisco Bay

The upcoming America’s Cup events in Newport, Rhode Island, San Francisco and San Diego, California are supposed to create thousands of jobs and over $1 billion in economic impact over the next two years. For the first time in its history, the America’s Cup will be able to be seen from shore, creating incredible public access for spectators as well as drawing a huge number of  spectators to profit from the port cities hosting America’s Cup events.

34th America´s Cup teams - Photo: Ivor Wilkins

“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 yachts.