Enormous yachts gliding through the bay will surely be an impressive sight. But what really excites city officials about the America’s Cup is its potential to inject an estimated $1 billion into the local economy and create upward of 8,000 jobs. A new workforce plan, prepared by city and race officials, reveals in detail how local businesses and residents will be able to benefit from the regatta, which will cost $300 million to put on. Exhibition races begin in August and culminate in the finals in summer 2013.
The final draft of the plan covers activities related to two areas. One is the America’s Cup Event Authority, which expects to directly and indirectly hire in the areas of marketing, catering, staging, hospitality, food and beverages, transportation, power, cleaning services, and technology. The other area is construction work on Piers 27 and 29, as well as Piers 30 and 32, all of which will be used during the regattas.
For Event Authority contracts worth $150,000 and more, the goal is to put San Francisco residents into half of all new entry-level jobs, in line with the city’s local hiring ordinance. About 30 percent of companies involved will ideally be small, local businesses.
All construction work will be performed by union contractors, according to the plan. The goal is to allot 20 percent of construction hours to San Franciscans, half of which will go to economically disadvantaged residents. Half of the apprentice hours will go to local workers in various trades. Local businesses will ideally make up one-fourth of subcontractors.
The Event Authority will also hire installation firms to assist with building temporary structures. For contracts worth $350,000 or more, those companies will be required to fill 20 percent of all permanent, non-managerial jobs with San Franciscans, half of whom will be economically disadvantaged. And 50 percent of all jobs will have to go to local residents.
