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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 ...

♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ please stand by [applause] >> i was going to say that that video is one of the best sailing videos i think we have ever seen. i think our colleagues on the team would agree. it's just terrific. it's probably the closest, again, i defer to the sailors and the sailing team. it's the closest thing to experience what these amazing boats are, these a.c.-45's, the bits and pieces that are here. the cup next summer which is in july and august, the challenger selection races, july and august, the winner of race will race the oracle racing in the finals startin...

>> this is extreme sailing. this is absolutely what we hoped for. >> absolutely blown away. >> absolutely dumbfounded. >> that is what you like. >> it is great to see so close to the action. this is so exciting. >> come in july this fabulous sport. >> jimmy is leading away. >> this is the new 72, they will be flying. >> this goes to oracle racing. >> two weeks ago in naples, italy. this is a terrific event. san francisco conditions. 250,000 people. the america's cup. welcome to the new america's cup. we would like to welcome the mayor, thank you for joining us on this momentous occas...

we are going to began the show. this is a video of racing and training year in san francisco bay. we have outtakes from the various world cup series regatta's that have taken place around the world since last year. most recently, in naples, italy. we have a brand new footage that no 1 has seen. we are very proud to show you this video on the 34th edition on the oldest trophy in sports. ♪ ♪ ki ♪ >> that is a dynamite piece of video. >> this is extreme sailing. this is absolutely what we hoped for. >> absolutely blown away. >> absolutely dumbfounded. >> that is what you like. >> ...

[applause] i would like to thank our planning commission president. thank you for your wonderful leadership on this, this really help us to bring it through. individuals, as i said, they have people that have seen the vision for our city and have had really years of leadership. the former supervisor, thank you for being here as well. i would like to give a shout out to -- to represent leader pelosi. thank you for being here. we were given real support to make sure that this starts. our fire chief and his wife, thank you for being here. i am excited. i am excited that all the differen...