An overview of Formula 1 2013 to be held in Austin, Texas
Formula One, the pinnacle of glitz and glamour of the racing world. Consists of races which are accompanied by weeklong international festivals that attract celebrities and billionaires.
Austin was supposed to play host to the Formula One United States Grand Prix, starting in 2012. However, the circuit’s President declared that Austin would face a delay until 2013, because the 1000-acre project and $400 million racing facility is under construction. This will be the first track ever built in the U.S. specifically for Formula One racing. And it promises to be one of the most challenging in the world, with an elevation change of 133 feet along the 3.4-mile course. The circuit of the Americas is a new world-class performance and business destination in Texas. It is not just a track, it is the only FIA Grade 1 automotive facility in the U.S, also the 1st in the country’s history to host Formula One along with MotoGP, designed to be a multifunctional facility for year-round use.
However, the Master plan not just consists of the construction of the circuits, but also the Banquet Halls; Commercial Kitchens; State-of-the-Art Conference Centre; fourteen two-story Executive Meeting Suites; Medical Trauma Centre; Law Enforcement Training Areas; Automotive Driving Academy for manufacturers to test, launch and educate consumers featuring classroom settings; Virtual Driver Training and On-Track Driving Experiences; along with live music and Kart track as outdoor entertainments and much more. And a fact, difficult to believe, that the entire cost of the establishment of this master plan is derived from private investors and no local community, not even the City of Austin, is contributing a cent! The circuit of Americas has even paid for the water/sewerage lines, developing the desired zone.
The world’s greatest sporting spectrum is ranked the highest in regard to the sponsorships provided by world-wide corporations as it is known to be the world-class centre for advancements in automotive technology. It will also serve as a venue for many non-motor sport events annually, generating significant income for the host. This circuit of the Americas is expected to generate around $5 billion in 10 years. Formula One, being one of the most prestigious events of the world, will attract a large number of visitors to Austin, from within as well as outside America, hence boosting revenues of the tourism industry. Amazingly, the three hours of its broadcasting coverage is expected to generate more than $200 million through commercial advertising. I must say, hosting this famous and all-favorite motor sport is no doubt an excellent investment, with unimaginable returns!
And apart from the vast returns on investments, Formula One will make reasonable advancements in the education industry as well. One of which is, that The University of Texas is exploring possibilities of starting a pilot program with the Williams team to encourage engineering-related studies through real-world applications. Job training and placement programs are also being explored in association with Austin Community College, Huston-Tillotson University and the Austin Area Urban League.