Last week while presenting on an economic development panel, a colleague discussed its likely economic impact. First, it would draw a lot more races than just Formula One races. Second, many representatives from separate industry clusters have already expressed an unsolicited interest in investing and creating jobs in Austin if we develop this track. And, I was reminded how many corporate relocations follow visits by CEOs, investors and financiers.
Separately, I’ve heard conversations about potential green initiatives being built into the track and its programs. I believe there are serious, substantial initiatives which could further improve Austin’s competitiveness as a regional site for alternative energy startups and investment.
I oppose the cultural opposition to a Formula One track – seriously guys, just because it’s not a attractive past time for some of us, it’s huge for other Central Texans. I haven’t understood the green opposition – emissions from races have gotta be minuscule in comparison to flying all around the world for Audubon excursions – plus I’m told many advances in automobile technology have been fueled by Formula One race car development. As to the investment of State and county monies into infrastructure development – in light of the economic development potential being cited by people I trust, there appears to be a real ROI.