Business & Tech
Tall Ships Festival Expected to Generate $20 Million
Local businesses and community leaders attended the formal announcement of the Ocean State Tall Ships Festival 2012 on Wednesday afternoon at the Newport Yachting Center.
The was formally announced at the on Wednesday afternoon and is expected to generate over $20 million in economic development, officials said.
The event is scheduled from July 6 through July 9 of next year, just days after the departure of the America's Cup Series.
Richard McAuliffe, Jr., Chair of the Ocean State Tall Ships Board of Directors, welcomed the local business owners and community leaders who attended the announcement.
“This is a big deal,” he said.
State Representative Russel Jackson reiterated the importance of the event.
“Tall Ships is . . . a big deal for the Island. It’s a big deal for the entire state," he said.
Executive Director of the Newport Chamber of Commerce Jody Sullivan announced a formal RFP process that will be issued through the chamber for businesses statewide to participate in the festival as official vendors.
“The goal is to maximize the opportunity for businesses,” Sullivan said.
State representative Peter Martin commented that on a recent trip to London he saw two tall ships, and it gave him a “good feeling.”
“These boats are important all around the word,” he said.
Keith Stokes, Executive Director of Rhode Island Economic Development, said the combined economic stimulus of next July’s events, including the America's Cup Series and the Tall Ships Festival, is estimated at $100 million.
“It’s a great challenge to have,” Stoke said about the coordination of the two events.
The tall ship Lynx, an interpretation of a Baltimore Clipper Schooner for the War of 1812, will be Jamestown October 6 through October 9.
For more information:
- http://oceanstatetallships.com
- contact Erin Donovan at 401-474-7009