If You Lived In San Jose...

[NismoZ]

and just saw your race lose 600Gs, would you want to shell out more to cover 2 more years of losses? Bigger problem than leveling a couple of rail crossings. Good luck, boys. Hopefully there is at least that much in 1-time investment that won't add to the problem.

[jonovision_man]

Saw that. :shakehead

Asking for $4M over 2 years. After telling us there were scores of people and claiming it was a complete success.

Wearing a little thin now. If it wasn't for Edmonton, I'd really be worried, but at least they got one right. Time to replicate it elsewhere though! No more Ansans.

jono

[pferrf1]

and just saw your race lose 600Gs, would you want to shell out more to cover 2 more years of losses? Bigger problem than leveling a couple of rail crossings. Good luck, boys. Hopefully there is at least that much in 1-time investment that won't add to the problem.

the race didn't lose $600Gs - that number was the city's expenses that were not reimbursed - i.e. extra police and fire, rerouting of transit, etc.

The race did lose money, but still contributed sigificantly to the Canary fund and otehr charities... I believe they paid them first before themselves.

[pferrf1]

Some governments pay Bernie $20 to $25 mil, plus spend $100M building a track to atrract an F1 race.

This race, is obviously on a different level. However, I think the city is taking appropriate actions here based on economic spinoffs and the intrinsic value of having an internationally broadcast event from your city. Cities also love ot have big events for civic pride. I would guess that if this deal is even being considered, the mayor and other councillors believe the event is worth it multiple levels, not all that can be quantified. At least the organizers are asking for the assistance after one year of holding the event, rather than asking for it on the if come.

[Don Quixote]

How much money did the city make from the race from increased sales tax revenues, parking fees, room tax, etc? How much money did the merchants of San Jose make from meals, lodging, transportation, shopping, etc?

[cameraman]

Link to the Mercury News story (http://www.mercurynews.com/mld/mercurynews/13590425.htm)

[devilmaster]

If you Lived in San Jose.....

you wouldn't need to know the way to it? ba-dum-bum

IIRC, Edmonton lost money too. For a political body, they have to outweigh the actual costs they spent to an estimated spinoff intake of business and support from the race. If they can live with that, the race can go on. If they can't, well time to move on down the road.

[RichK]

How much money did the city make from the race from increased sales tax revenues, parking fees, room tax, etc? How much money did the merchants of San Jose make from meals, lodging, transportation, shopping, etc?


from the article:


City administrators who negotiated the new deal over the past several months with Jantzen and Listwin said the increased subsidy is justified by the other economic benefits the race brought to San Jose. They estimate the total economic impact from the 2005 race at $41.6 million, although that figure is not based on an actual survey of activity associated with the race.

Instead, it's an extrapolation based on spending patterns for other events that have been held in the city, which were then applied to race organizers' estimates of attendance. It also includes $18.5 million in indirect spending activity assumed to have trickled down through the economy.

My opinion: people always whine and bitch when an investment doesn't pay off in the first few years. This race could become a "Long Beach North" if they do it right as an event, although I personally dislike the course.

[Spicoli]

My opinion: people always whine and bitch ......

And so you have the OW internet forums civil wars. :D

[racer2c]

If only it had been Santa Fe. :gomer:

[Cam]

This article and thread has JW stamped all over it..... :rolleyes:

[NismoZ]

Move along everybody. Nothing left to see here. After 3 hours of presentations, questions and debate the city agreed to put up the $4.1 million needed! A few wanted to postpone the vote for 2 weeks and many believe that would have been the death of the race. (Why, because the public would have found out about it, organized and made a big fuss?) As noted it looks like the business interests really want this thing to stick around awhile (5yr. deal + another if all goes well) and grow. Chalk up another one for CC. (and San Jose too, I hope!)

[Cam]

Move along everybody. Nothing left to see here. After 3 hours of presentations, questions and debate the city agreed to put up the $4.1 million needed! A few wanted to postpone the vote for 2 weeks and many believe that would have been the death of the race. (Why, because the public would have found out about it, organized and made a big fuss?) As noted it looks like the business interests really want this thing to stick around awhile (5yr. deal + another if all goes well) and grow. Chalk up another one for CC. (and San Jose too, I hope!)

w00t! :thumbup:

[Dr. Corkski]

Yeah, these idiots are going to be spending money to be improving that joke of a course now. :laugh:

[coolhand]

what else is San Jose going to spend money on? its just a big suburb that consists of some of the wealthist people in the country. This is not chicago, NY or LA with a bunch of other problems to throw money at.

[jonovision_man]

Chalk up another one for CC. (and San Jose too, I hope!)

Agreed, if CC can deliver everyone comes out a winner.

Let's hope this turns out to be another Toronto/Edmonton/LB/Oz. Or at least a Denver. ;)

jono

[pchall]

what else is San Jose going to spend money on? its just a big suburb that consists of some of the wealthist people in the country. This is not chicago, NY or LA with a bunch of other problems to throw money at.


I hear that San Jose has a really problem with the density of coffee shops per city block. Perhaps the money could be better spent encouraging even more bean juice entrepreneurs?