Why the F1 track will be useful for Austin:

November 2, 2010: People who are unfamiliar with Formula One locations may think that for only one weekend per year, the track is bombarded with a couple hundred thousand people, while the rest of the year it sits empty. That’s very unlikely to be the case in Texas. Not only will it bring in travelers ready to get hotel rooms, dine at restaurants, and fall in love with Austin, it will bring in people who have zero interest in what Formula One is all about. Racing, auctions, first-rate concerts (In Austin, the biggest bands usually go straight from Dallas to San Antonio) testing and educational events, and more are planned for this new venue. No doubt there will be plenty of temporary jobs for each event.

Estimates of the numbers revolving around the USGP event were released after a public information request by the Austin Business Journal. See below for more information:

$300 million economic impact annually
$600 million television viewers worldwide in 188 countries
Global “star power” presence, second only to the Oscars
300,000 people attending the event over the weekend
More than 1,500 construction jobs
1,200 temporary jobs associated with the Grand Prix event
350 temporary jobs with each additional racing event
More than 400,000 annual attendance of other racing events, including MOTO GP, NASCAR, ALMS, INDY CAR, Drag Racing & Vintage Car, Grand Am, AMA Superbike
Several other uses for the facility are mentioned in the document:

Alternative Fuel Automobile Research and Development Center
Motorsports Country Club Days
High Performance Driving Experiences & Schools (Porsche & Bondurant)
Professional Motorsports Team Testing
Film Industry Opportunities
DPS, Sheriffs, Swat & Local Police & Fire Department Training
Music Concerts
High End Auctions
Auto Manufacturer Testing & Corporate Team Building

Original article HERE

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