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Section 2: Benefits to Respondent Section 2: Benefits to Respondent The X PRIZE Cup is designed to create an environment within which the public spaceflight industry can thrive. Our intent is to attract strong financial and public relations support to our spaceport partner to enable the development of a nucleus of commercial activity that will sustain rapid growth of this new sector. Examples of the benefits that our spaceport partner may gain include: 1. Worldwide Media Attention: Even prior to the first piloted X PRIZE Competition flights the X PRIZE has realized over 1.5 billion media impressions. The excitement surrounding the X PRIZE Cup is likely to generate even bigger public relations returns as multiple X PRIZE teams converge on a single site. The X PRIZE Foundation will bring to the competition its extensive relationships with the media, as well as a television partner who will promote and televise the competition. 2. Brand Building for Site and Facilities: Each year, the X PRIZE Cup and related events will increase the strength of the spaceport’s brand image as the premier site for public spaceflight. Just as Oshkosh is known worldwide for its air show, and Daytona and Indianapolis are known for auto racing, so too, the winning spaceport will gain global brand recognition as the place for public spaceflight. 3. High-tech Reputation: The site chosen for the X PRIZE Cup will become the world’s foremost experimental site for public spaceflight. These activities will enhance the site’s high-technology reputation and serve as a magnet for other high-technology industries. 4. Economic Impact: The area surrounding the X PRIZE Cup venue will see substantial economic impact as a result of the event. The X PRIZE Foundation has studied and evaluated comparable events such as the Experimental Aviation Association’s AirVenture, Reno’s National Championship Air Races, and Daytona’s Speedweek. Using these comparable events as a guide, the X PRIZE Foundation predicts the economic impact to the surrounding community to be between $20 million and $50 million the first year of operation. 5. Job Creation: Creating and administering the X PRIZE Cup will require a year-round staff in addition to a peak crew to manage and implement the public activities. In addition, the event will create demand for employment among existing regional businesses. As elements of the new public spaceflight industry move to the site, they will employ workers and will require support services from local companies and organizations. An initial X PRIZE Cup year-round staffing of 25 is expected to grow to 100 within five years. 6. Job Relocation: The administration of the X PRIZE Cup activities will require on-site personnel that will relocate to the host site. Existing spaceflight companies will move personnel to the area as demand for spaceport services grows. 7. Capital Investment: The creation of a nucleus of public spaceflight activity will drive capital investment to the region. In addition to the investments for infrastructure and industrial activity, the large number of people served during the public events will increase demand for hotels, restaurants, and other service industries. We anticipate that many of the experiential products debuted at the X PRIZE Cup will be popular on a year-round basis. Neutral buoyancy tanks and zero gravity flight adventures will serve to attract visitors for longer versions of the experience than can be enjoyed during the more crowded X PRIZE Cup timeframe. Other technology and non- technology exhibitions, conferences, and meetings will take advantage of the site infrastructure during off-peak times. 8. Tax Revenues: State and local regions will enjoy tax revenues from expenditures during the actual X PRIZE Cup activities as well as year-round benefits from businesses attracted to the public spaceflight industry. 9. Facilities Creation: The X PRIZE Cup will result in the creation of infrastructure and facilities that will provide revenue and other benefits to the spaceport during the remaining weeks of the year when they are not fully occupied by X PRIZE Cup events. .
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