Construction on the Circuit of the Americas facility is progressing as planned. The facility is a $250 million to $300 million project that is 100 percent privately financed.
The Austin City Council has begun the process of deciding if Austin will be the host community for the Formula 1 United States Grand Prix race.
The race will generate an estimated $300 million per-year economic impact on the local economy for 10 years.
It is creating more than 1000 construction-related jobs right now, 300 full time equivilent jobs and 4000 jobs on race day. In addition to the jobs already created, this project is attracting businesses to the area in a variety of sectors. It is also creating substantial job-training opportunities for several area schools and universities.
The City of Austin's endorsement comes with no financial risk. The city will never be asked to pay money for F1.
The F1 event brings NEW money and tax revenues to Austin that would otherwise come to Austin.
This is the best opportunity in a generation to invest in a part of Austin that has long gone neglected. It is creating jobs opportunities for people , and property tax revenues for Del Valle ISD that are desperately needed.
We need supportive voices like yours to help. This will be a great thing for Austin - and it can be a cash generating engine that supports all kinds of other community priorities over time. We won't close a budget gap in the City by not growing!
Sign the petition and let the Austin City Council to Vote YES on F1!