Fortaleza Ceara, Brazil: Oyster Shell-Shaped Aquarium is $105 million Investment by US Federal Bank
A city in the fifth-poorest Brazilian state is getting a $105 million investment from a U.S. federal entity in the form of an aquarium.
But the four-floor, Oyster-shaped building -- slated to open in 2015 -- has angered locals who believe the money could be spent to improve public services, according to Fox Latino.
The Export-Import Bank of the U.S., the export credit agency, said the new attraction in Fortaleza, in the state of Ceara, is "a victory for small businesses," and will help bring tourists to the area, in a statement from 2012, when plans were first announced.
Residents who are angry about the mammoth architectural project invading their town did not benefit from the World Cup being hosted in their home country, and are bitter about the extravagant expenses by the federal government for hosting the tournament -- rather than helping its citizens.
Additionally, the anticipated boost in tourism is estimated at 12 million visitors, but the city barely saw more than 200,000 in 2010, and a new aquarium may not be enough to meet the goal, according to Fox Latino.
Despite troubled economic times, the U.S. entity does not face the same backlash.
It said in the statement that the project will create 700 jobs, from Colorado, and 90 percent of contracting work will come from small businesses -- 15 U.S. subcontractors.
"Ex-Im Bank's financing for this transaction will level the playing field for an American exporter in Brazil -- one of the Bank's nine key markets -- and enable the company to confront foreign competition on an equal footing," said Bank chairman and president Fred Hochberg, in the statement. "As a result, the transaction will directly support hundreds of American small-business jobs in a specialized industry. The aquarium, which attests to the craftsmanship of American workers, will be a major tourist attraction in Brazil that will help support jobs here at home."
The plan for the building includes four floors with 25 large tanks that will hold 15 million liters of water and about 500 marine species, as well as 35,000 individual specimen.
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