San Francisco's local economy is expected to experience a huge financial boon as the city prepares to host the America's Cup in 2013.
City officials said the yacht race could create as many as 8,000 jobs over the next year and generate approximately $1 billion, the San Francisco Chronicle reports.
According to a new workforce plan, the America's Cup Event Authority will directly and indirectly hire thousands of workers for construction, marketing, catering, hospitality and food services, transportation, technology, cleaning and staging. The goal of the authority is to make sure that 30 percent of companies involved in the regatta will be local, small businesses. Approximately 20 percent of construction work is expected to go to local residents.
Meanwhile in North Carolina, Mount Airy officials said they are continuing their debate on a proposed sports development project that will help create jobs and have an indirect impact on local businesses and tourism in Surry County.
The Mount Airy News reports the Sports Development Committee is looking at a proposal that would create a multi-field complex capable of hosting elite softball tournaments or motorcross events.