Bret's Blog

There is little doubt of what one of the biggest topics in Rhode Island will be (or at least ought to be)this summer: the possible return of The America's Cup to Newport.

As has been widely reported, The America's Cup, the premier sailing race in world, has a chance of coming back to the city where it all began, Newport, RI. The way the Cup essentially works is that the winning team gets to decide where the race will be hosted. A Swiss team won the 2008 Cup, and decided to hold the event in Valencia, Spain. The 2009 race was won by Larry Ellison's American BMW Oracle Racing team. Ellison, along with being one of the wealthiest people in the world, has recently purchased a notable piece of Rhode Island Real Estate for $10.5 million. Newport's famous Astor's Beechwood Mansion to be precise. Ellison has suggested Newport as a possible destination for the event, as well as San Francisco and San Diego.
Having the America's Cup here would certainly bring national attention, as well as millions of dollars to our wonderful little state. Though San Francisco and San Diego are viable locations and tough competition, we may have a leg up in this fight.

1.) We want it. Really, Really, Badly. From Governor Carcieri, Providence Mayor Cicciline, and new Economic Development Corporation Chairman Keith Stokes all the way down down we want it. Proposals are being developed as we speak.

2.) We need it. Really, Really, Badly. The America's Cup will bring countless jobs and even more tourist dollars to Rhode Island.

3.) We have friends on the inside. Ellison seems to be open to holding the race here, his new summer home. Also, Newport native and world renowned yachtsman Halsey Herreshoff is very close to Ellison. In fact Herreshoff was present when the BMW Oracle team clinched the race. He was invited by Ellison to attend an awards ceremony in San Francisco and apparently plans on hand delivering a letter from Governor Carcieri in favor our state, as well as issuing a proposal of his own. However Herreshoff and our other delegates will have to compete with California's Rock Star, San Francisco Mayor Gavin Newsom, who reportedly dearly wants the event also.

The trickle down effect of hosting the America's Cup again could be astonishing. Foremost would be the revitalizing effect it will have on Rhode Island's tourist economy. The hospitality businesses of coastal Rhode Island would be buzzing for weeks. It would be in a boon for Real Estate, for rentals and property sales. Many jobs would be created at boatyards, marinas, workshops, and hauling and freighting businesses, many of them permanent. It could also have ancillary benefits for Rhode Island's single most important undeveloped economic commodity, North Kingstown's deep-water port at Quonset Point.

To learn more about RI's race for the America's Cup, please visit 1 and 2 at www.providencejournal.com

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