Economy
6:28 am
Fri December 17, 2010

Chafee meets with team on America's Cup location

PROVIDENCE, R.I. – A spokesman for Rhode Island Gov.-elect Lincoln Chafee says Chafee and representatives of the Golden Gate Yacht Club all agree that Newport is the "natural home for the America's Cup."


Chafee met privately Thursday with team representatives and with Keith Stokes, head of the state's Economic Development Corp.


Trainor told The Associated Press that the economic benefits of hosting the America's Cup must be weighed against the infrastructure investments needed to pull it off. San Francisco approved an agreement Tuesday to host the race, but it did not provide everything the team sought.


Stokes told the AP earlier this week that hosting the race would cost tens of millions of dollars, but could be paid for in various ways, such as issuing a bond.

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