San Francisco is now going to be the place where sailboats will gracefully race for the 34th America’s Cup.
San Francisco had maintained a consistent follow up with the organizing committee for months and made serious efforts, as are done for the Olympic, with beneficial finance related and development related packages.
The America’s Cup regatta is scheduled after two years but San Francisco has already geared up the preparations for the most prestigious yachting event. According to a study by the Bay Area Council Economic Institute and Beacon Economics the city economy will see a financial boost by gaining $1.4 billion dollars and some 8,800 jobs.
After being the winner of the 33rd America’s Cup in Valencia, Spain, in February 2010, Oracle’s Larry Ellison, the founder of BMW Oracle Racing, will now be happier to voyage in the 34th America’s Cup as the sailing will be in his home waters.
Oracle team and the city will ride this golden opportunity to display graceful sailing in the superlative amphitheater of San Francisco Bay, said Mayor Gavin Newsom.