I spent 3 months in Panama City last fall (and worked as a Finish Line Catcher--totally inspiring!).
While there, it became apparent that only a small group of locals support the race. The sponsoring resort, a few council members, and a few restaurants. Many/most of the remaining businesses are already closed for the winter and aren't willing to re-open for a week in November.
I spoke extensively with locals and the perception was that the race didn't generate enough income. Remember...They are used to having tens of thousands of drunk college kids hit the beaches every spring...Quite honestly, IM doesn't make much of a dent compared to Spring Break (whether a community should aspire to drunken debauchery as a major source of revenue is another debate).
I think it's pretty safe to say that PC won't make a very compelling offer. Actually, I think the venue is pretty uninspiring when compared with (Lake Placid, Penticton, or Madison) so I'd love to see the event moved. I wonder if they could do anything in the Carolinas or perhaps Tallahassee (nicer town, lots of college support, etc.).
Just my $.02
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