The America's Cup World Series, scheduled for next year in Newport, R.I., is expected to bring millions in revenue to the area and create jobs, officials said Thursday at a press conference on the opening day of the Newport International Boat Show.
“An economic impact analysis report conducted by the Rhode Island Department of Revenue estimates that the event is expected to generate $72 million in spending (including direct and indirect expenditures) toward the southeastern New England economy and create 400 jobs in 2012,” economic director Keith Stokes said in a statement.
The finish of the 2011-12 America’s Cup World Series, where the first AC World Series champion will be crowned, is set for Newport in June 2012. The new professional circuit, said to feature the best sailors in the fastest boats, started in Cascais, Portugal, in August and is sailing in Plymouth, England, simultaneously with the Newport show.
Other stops include San Diego in November, Venice, Italy, in May 2012 and San Francisco. The remaining calendar will be announced by the end of October.
Videos of the high-speed raceboats, AC 45 catamarans, are being presented at the Newport show — with specifics on the Newport race course, an Olympic Village-type staging area, stadium seating and land vantage points for tens of thousands of viewers — at an America’s Cup tent on the show grounds.
The Newport International Boat Show — featuring the largest selection of both sail and powerboats in the Northeast — runs through Sunday.