W USA Fund Organization

Formula 1 coming to Austin, Texas

It was recently announced that formula one would be coming the the United States. The second surprise was that it was coming to Austin, Texas. What is interesting about this deal is that it is the first time in U.S. history that a track will be built purposely for a formula one race. It was revealed that Red McCombs is one of the key financial backers in this deal. Building the track is expected to cost 300 million dollars and it will be completed by 2012 for the first race. City leaders have said the one weekend of racing will bring in millions in revenue into the city. Small businesses are also preparing for the increase in revenue. Chris from Austin Texas Stock Footage said they have already been selling Austin, Texas stock footage to media outlets all over the world including Germany, England, and Italy. All of this should help boost the cities economy which felt a slight bit of a downturn as the economy went into a recession. Despite the conditions in the rest of the nation, Austin is still healthier than most other cities and with F1 coming to the city in two years, it should be doing very well.