NEW LONDON, Conn.—A weak economy is expected to reduce funding, revenue and tourists at next year's festival of tall ships in New London
John Johnson, chairman of the group organizing the event, said raising money and winning corporate sponsorships will be difficult. But he says he's confident the group will raise $1 million by the spring.
The previous event in 2000 featured dozens of tall ships from around the world on the Thames River. The 2000 event's budget was $6.2 million, largely bankrolled by the state.
The Day of New London reports ( http://bit.ly/owuUTl) that Johnson expects the state to provide some funding, but not as much as the $500,000 organizers have requested.
Estimates are that nearly 1 million visitors came to the area for the 2000 festival. Johnson expects about 750,000 visitors next year.
Information from: The Day, http://www.theday.com