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New Zealand’s $350 million role in the 2013 America’s Cup

by Sail-World on 27 Aug 2013
Emirates New Zealand on the final reaching leg to the finish of race seven of the Louis Vuitton finals. 24/8/2013. Chris Cameron/ETNZ© http://www.chriscameron.co.nz

Much comment has been made internationally regarding the $36million investment from NZ Trade and Enterprise into Emirates Team NZ, under an arrangement first signed by the then Labour Government to help the team build back to compete in 2007, and the second campaign staged in 2013.

The large stylised fern displayed on the Emirates Team NZ wingsail is one of the logos owned by NZTE.

NZTE works closely with the NZ Marine Industry Association to expand NZ's Marine Exports, and the association claims that from the 2013 America’s Cup, New Zealand has already benefited from well in excess of NZ $350 million dollars coming into the economy.

Peter Busfield, executive director of the NZ Marine Industry Association (NZ Marine), says: 'There is no doubt that the America’s Cup and all that the regatta represents, sporting-wise and commercially, has played a significant role in highlighting and developing New Zealand’s marine sector over the past 25 years.

'In the lead-up to the 2013 America’s Cup in San Francisco, 44 NZ Marine member companies – plus others outside the marine sector – have contributed hundreds of thousands of man-hours, innovation and design skills, and quality workmanship to one or more of three of the four America’s Cup syndicates which did most or all of their campaign preparation in New Zealand,' said Busfield when speaking at a function for 110 invited guests, media and industry colleagues in San Francisco on Friday 23 August at the Emirates Team New Zealand sailing base.

With every team’s AC45 boat and the AC72s of Emirates Team New Zealand and the major components and fit-out of the AC72s of Luna Rossa Challenge Oracle Team USA built in New Zealand, the physical man hours, supplies and tax generated have clearly generated considerable economic benefits to New Zealand’s marine sector and the country as a whole.

'The New Zealand Government’s investment of $36 million in Emirates Team New Zealand’s campaign has been more than returned in direct tax revenue alone, not to mention the great profiling of New Zealand as a brand associated with world-leading technology,' says Busfield.

'We also recognise the role that the world-class NZ Marine Industry Training Organisation (NZ Marine ITO) has played in helping create a highly-skilled, talented pool of marine industry professionals which in turn drew the America’s Cup teams to manufacture most, if not all, their race boats, supply and support boats and other components in New Zealand.

'The NZ Marine ITO has done and continues to play an important role in ensuring New Zealand has the skilled personnel available to build and refit world-leading superyachts and we’ve witnessed the importance of technology transfer from the America’s Cup and other Grand Prix race programmes to and from the superyacht sector.

'New Zealand can already celebrate the fact our people built the winning Louis Vuitton and 2013 America’s Cup yachts!'

NZ Marine also comprises the NZ Marine Industry Training Organisation and NZ Marine Export Group, and owns and runs the annual Auckland On Water Boat Show which next takes place from 26 to 29 September 2013.

Lancer Not EqualPantaenius - Fixed ValueInSunSport - NZ

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