BOSTON -- When considering the big-event prestige, the excitement and the history it evokes, all ships, and local businesses, are raised by the Tall Ships coming to town.

(A quick disclosure: WCVB is a sponsor of Sail Boston and this year's visit from ships around the world.)

Boston and the Bay State need this critical shot in the arm. Beleaguered hotels, restaurants, all retail businesses in the Metro area are expected to profit from the projected million-plus visitors.

Google the Tall Ships Boston visit in 2000 and you will notice nearly every politician in the Bay State jumping on the bandwagon, many taking credit for luring this prestigious event to Boston over many other ports of call. This July's mega event, however, is turning into an orphan among our elected officials.

Boston Mayor Tom Menino has determined, rightly so, that the city alone should not bear the full burden of security and related expenses, especially since all sales tax revenue goes to the state. Although taxpayers have already invested $1.3 million in Sail Boston, Massachusetts should pony up more since it stands to gain millions more in taxes and fees.

In the future, such a mega event may require a completely new system -- teaming the city, state, private and non-profit sectors -- to deal with the cost and complexities. Otherwise, big events and the related windfall of revenue they bring, may skip Boston altogether.

For this Tall Ship visit, we like the idea of concentrating events on fewer days and charging the public an entry fee, but even more revenue-generating and cost-saving measures are needed.

The Tall Ships deserve safe harbor in the Bay State, and, frankly, we all need an excuse to look up.