The US Grand Prix Formula 1 race track is in Austin Texas and most race fans know that, but there are some things about the race track that people may not know that are interesting about the race venue.
The Circuit of the Americas spreads over three hundred and seventy-five acres and the cost to build the facility topped the four hundred thousand dollar mark. While the project seems like a huge undertaking and the price tag much bigger than you might expect, the work on the race track to bring the US Grand Prix to fruition created jobs for construction workers and other companies that were contracted during the building phase. The number of acres and the cost seem very large, but when you consider that 1,700 construction workers were employed and that nearly 50 million dollars was paid to small businesses that were owned by women or minorities, the value of this project begins to take shape.
In addition to the jobs created while the construction phase took place, there were more jobs created after the facility was completed. Nearly three hundred full time jobs were created and that number balloons to 3,000 during peak season activities so that the crowds can be accommodated for the US Grand Prix and other events that are scheduled each year. Overall, the site was able to create about 6,000 jobs total and that is a nice boon for the Austin area.
One cost that might not be considered is the installation of water and waste lines for a facility. The city of Austin actually owns the lines for the area and so while the Circuit of the Americas had to initially put out 13 million dollars, that price has been reimbursed by the city of Austin.
The US Grand Prix is not the only event that is held at the Circuit of the Americas. With MotoGP and even events like the X Games and other performances the race track has an estimated 1.2 million visitors each year. When you factor in that those visitors all need to buy food and have lodging, the area economy is boosted significantly because of the track.
Viewers for the US Grand Prix can be found worldwide. In fact, it is estimated that the Formula 1 race will be viewed by 520 million people and those people represent approximately one hundred eighty-seven countries. That is a huge amount of people that are watching the event. The commercial advertising can top the 200 million dollar mark.
The Circuit of the Americas was a huge undertaking to build and to staff, but as it is a great venue for performances as well as races, it has been a great investment for the Austin area. It also enabled the United States to be back on the Formula 1 racing circuit once again which has made many people very happy. If you are in the Austin area, drop by just to have a look around at the impressive racing facility.