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Analysts: America's Cup delivered legacy transit and green gains but fell far short of projected economic windfall
Summary
Budget analysts told supervisors that the 2012–2013 America's Cup produced lasting transportation and environmental benefits but the city's measured economic impact—about $364.4 million and an estimated 2,800 jobs—was far below earlier projections of roughly $1.4 billion and 8,800 jobs; the report found a city net loss of about $11.5 million and recommended stronger monitoring, contractual payments for city property use, and clearer enforcement for workforce and small-business inclusion.
The Budget and Legislative Analyst told the Board’s Budget & Finance Subcommittee on March 5 that the city's hosting of the 34th America's Cup produced notable legacy benefits—transportation improvements, environmental mitigations and vendor opportunities—but also resulted in revenues and reimbursements well short of early projections and a net fiscal loss to the city.
Budget analyst Ms. Campbell summarized the city’s review of the Office of Economic and Workforce Development’s (OEWD) commissioned economic analysis and city department expenditures. The Bay Area Council/Beacon Economics pre‑event projection (circa 2010) was approximately $1.3–$1.4 billion and estimated about 8,800 jobs; the city's post‑event accounting measured about $364,400,000 in economic activity and estimated roughly 2,800 jobs. The analysts reported a city net loss of about…
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