Governor Christie: Formula 1 New Jersey Grand Prix coming in 2013

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News & Politics

[JL103]

It looks like Montreal's track.

[HULKHODGY]

@zk92000 Yea looks like im not gonna be left with much of an option now but my mind was pretty much set anyway, theres so much more to do in new york than there would be in texas. theres so many landmarks to visit it would just be the perfect place to propose (although i think my girlfriend wants a proposal sooer than 2013). I could even head down south to florida with the year extra id be saving, really does have much more options to it than texas!

[zk92000]

@HULKHODGY, yea u may want to hold off on the Texas idea. Looks like we may have to drop that race. Im a New Yorker myself, you will love it here. Alot more to do and visit outside of just watching the race. 

[justteach1]

New Jersey comeback? Where is it? All I see is Christie getting a bigger head and his cronies getting fatter wallets. Come on man...you are a joke.

[lehmanck]

@hotrodmex, It is my understanding that NJ is not using tax revenue to pay the GP race fee and that the NJ cities will be reimbursed for their expenses. Texas on the other hand is using tax revenue transfered to the Major Events Trust Fund (METF) in hopes of reimbursement from wildly exaggerated projected increases in sales tax revenue.

In spite of beng the authority on what is subject to sales tax, the TX Comptroller committed to F1 based on its initial study including $1M sales tax on tips!

[lehmanck]

@hotrodmex, I said what I said and none of what you say I said. Yes, many F1 fans will travel the several hundred or thousands of miles but the vast majority of the 100,000+ will come from in state. Which is what I said. The British GP and the Montreal GP attendance studies prove this.

My point is that Texas is paying $250 million for a fraction of what NJ is getting for free.

[hotrodmex]

@lehmanck: Also, it is also hilarious to hear people refer to the Texas track a wasteful enterprise, being solely used for F1, when the truth is it will attract other racing series as well, from SCCA club racing to other Top Tier events like ALMS.

Texas isn't alone in the $250mil-for-ten-years price bracket. Every City that hosts a GP worldwide pays the same. Most of them are solvent, but some aren't. All comes down to how well the event is run.

[hotrodmex]

@lehmanck: It's hilarious to see people who think that there aren't RABID F1 fans in the United States that will be making the journey to Austin next year. The assumption that because the track is "so far from out-of-state residents" attendance will be limited to Texans is absurd. The event gives me a reason to travel there, and stay for a week (there are several days of track running durring these weekends...everybody not into motorsports knows this, right? Right?)

[lehmanck]

NJ will reap some economic benefit from NY and other proximal out of state residents spending in NJ. But TX has committed to PAY $250 million for a GP that will be located so far from out of state residents that it will be primarily Texans recirculating their own money for relatively little net tax or other economic gain.

But Texas Gov. Perry is running for President, he needs Ecclestone et al to donate heavily. No wonder folks wanted Christie to run against Perry.

[Tyler83Mr]

hmm, the only reason for NJ host the F1 is the NY skyline ....