The Austin F1 track will cost $180m to build, according to documents given to the Statesman newspaper.
An apparent battle of wits between the local media and promoter Tavo Hellmund continued when the newpaper requested information on the project. Despite them being marked “Confidential” and copyrighted to Hellmund;s company, they were released by City Hall after the attorney general decreed that they were not exempted under the Texas Public Information Act.
The actual building of the track is being funded privately, and thus in theory the number is not of any great relevance to the taxpayer. Of more interest perhaps is the claim that the race will have a $300m annual impact on the Austin area. In theory the $25m granted by the government to help offset running costs will be funded by sales tax.
Aside from quoting the cost of building the track, the documents contend that the project will require 1500 construction workers, and that 1200 people will be employed over the Grand Prix weekend. There will also be 40 full time employees at the venue.
Other activities expected to keep the track busy for up to 250 days a year include testing, alternative fuel research (as previously outlined here), driving schools, police training, music concerts and “high-end auctions.” There is also mention of NASCAR and drag racing events.