Governor Chafee signed Executive Order 11-11, which establishes the America's Cup World Series Host Committee on December 1. Internationally renowned sailor and CEO of ORACLE Racing Russell Coutts, America's Cup Event Authority Chairman and Chief Executive Officer Richard Worth, and Executive Director of Sail Newport Brad Read were present for the ceremony.
The Committee, headed by Brad Read, will lead the state's efforts in hosting the America's Cup World Series in Newport from June 23 - July 1, 2012. The Rhode Island Economic Development Corporation (RIEDC) has estimated that the event could create hundreds of new jobs and pump more than $70 million into the state's economy.
"The America's Cup World Series races have great potential to bring job creation and revenue to Rhode Island," Governor Chafee said. "Newport has long, strong ties to the America's Cup, and these races renew that historic connection. The Host Committee established today, led by Newporter and renowned sailor Brad Read, will help to coordinate important preparation efforts to ensure that this exciting event is thoroughly successful."
Members of the Host Committee will include representatives from Rhode Island businesses, state agencies, municipalities, and event management agencies.
