would not be here today without leadership and guidance of the port commission represented by kimberly brandon. the director of the office and workforce development, my duties include the interest and development, business attraction and retention, small business development, international trade and commerce and workforce development. when you listen to the job description, you understand why this is so important. this is not only a breathtaking spectator event that will mark us internationally, this touches on nearly every aspect of what we do to improve the economic climate of san francisco. the america's cup will help us nationally and internationally. it creates business opportunities and jobs. the contribution to the economy is obvious. visitor's events, international television exposure, tax revenue, the less obvious but just as direct of impacts of this event will last way beyond the 34th america's cup races and the 5th america's cup races and the 36th and the 37th. [applause] >> racing to be hosted here in san francisco. the less economic -- the less obvious impact comes from developme