COTA Austin - construction and infrastructure

[FW17]

I doubt it is all that bad. I'm sure some rich Texan(s) will be happy to plough some cash into a venture like this and get a bit of trackside advertising for their company (if they have one) or get a corner or a grandstand named after them.

However it is correct that public money is not used for events like this (I wish that the UK Government would take this view with the royal wedding and the Olypimics). It's fine if a taxpayer is going to go to the race or watch it or is a fan of F1, but if they couldn't care less about it then why should their tax money be spent on this?

Why should the city help itself to a free meal on the back of F1 and the track. It is well known that there is a spike in business activity during an F1 weekend and can be sustained if embraced by the city by promoting the same as in Singapore.

Why should a rich Texan foot the hosting fee and the city enjoy all the benefits through increased tax revenue?

[bhall]

Why should a rich Texan foot the hosting fee and the city enjoy all the benefits through increased tax revenue?

If put to a referendum, economic benefits or not, the citizens of Austin would more than likely decline.

I think more sporting venues in the U.S. should be completely private endeavors. I'm sick to death of untold billions in tax dollars being pumped into new stadia for the benefit of billionaire team owners.

[andrew]

I doubt it is all that bad. I'm sure some rich Texan(s) will be happy to plough some cash into a venture like this and get a bit of trackside advertising for their company (if they have one) or get a corner or a grandstand named after them.

However it is correct that public money is not used for events like this (I wish that the UK Government would take this view with the royal wedding and the Olypimics). It's fine if a taxpayer is going to go to the race or watch it or is a fan of F1, but if they couldn't care less about it then why should their tax money be spent on this?

Why should the city help itself to a free meal on the back of F1 and the track. It is well known that there is a spike in business activity during an F1 weekend and can be sustained if embraced by the city by promoting the same as in Singapore.

Why should a rich Texan foot the hosting fee and the city enjoy all the benefits through increased tax revenue?

So the public should pay for something a lot of them probably don't care about?

The US citizen's tax money has been wasted in recent years on unwinable pointles wars against an unkown enemy.

In the UK, my tax money is currently going to a royal wedding,commonwealth games and olympic games - none of which I care about or will see any benefit from. Meanwhile (looking very locally) the hospital is falling to bits and filthy, there is the threat of school closures, teachers cannot be hired where they are needed and the roads are in a terrible state in places.

You see what I'm getting at here? Public money should go on essentials, not a nice play thing for a lucky few.

[FW17]

I doubt it is all that bad. I'm sure some rich Texan(s) will be happy to plough some cash into a venture like this and get a bit of trackside advertising for their company (if they have one) or get a corner or a grandstand named after them.

However it is correct that public money is not used for events like this (I wish that the UK Government would take this view with the royal wedding and the Olypimics). It's fine if a taxpayer is going to go to the race or watch it or is a fan of F1, but if they couldn't care less about it then why should their tax money be spent on this?

Why should the city help itself to a free meal on the back of F1 and the track. It is well known that there is a spike in business activity during an F1 weekend and can be sustained if embraced by the city by promoting the same as in Singapore.

Why should a rich Texan foot the hosting fee and the city enjoy all the benefits through increased tax revenue?

So the public should pay for something a lot of them probably don't care about?

The US citizen's tax money has been wasted in recent years on unwinable pointles wars against an unkown enemy.

In the UK, my tax money is currently going to a royal wedding,commonwealth games and olympic games - none of which I care about or will see any benefit from. Meanwhile (looking very locally) the hospital is falling to bits and filthy, there is the threat of school closures, teachers cannot be hired where they are needed and the roads are in a terrible state in places.

You see what I'm getting at here? Public money should go on essentials, not a nice play thing for a lucky few.

A very basic view of things.

As in any venture the Govt is trying to generate more tax revenue. This will involve giving tax relief to businesses so that surrounding areas can develop and improve the standard of living and reduce the budget deficit.

If Govt was going to depend only on your income tax and nothing else, there will be no growth and your income will remain the same and no new jobs will be created. If this is put under a referendum, people will still won't care as they will see only what is in front of their yard.

[Just_a_fan]

If the Govt and the locals don't want to pay and see no benefit from the race, can anyone tell me why the hell F1 is going there in the first place?

I could sort of see why an F1 dominated by car manufacturers would want to go to the US but as they have been falling by the wayside, I don't see a need to go there.

The US has a rich heritage of home-grown motorsport; it doesn't need F1 any more than F1 need the US. The only beneficiaries of this race appear to be Bernie and his CVC buddies...an empty Austin GP is no better than an empty Turkish GP it seems to me.

[andrew]

A very basic view of things.

As in any venture the Govt is trying to generate more tax revenue. This will involve giving tax relief to businesses so that surrounding areas can develop and improve the standard of living and reduce the budget deficit.

If Govt was going to depend only on your income tax and nothing else, there will be no growth and your income will remain the same and no new jobs will be created. If this is put under a referendum, people will still won't care as they will see only what is in front of their yard.

The race at Austin may give some kind of short term benefit to the local area but that is all, unless other series want to use the track.

The examples I have given in my post above will benefit a very small portion of the UK for a very short time. After that, we are left with a series of one off structures which are underused and supported at a great expense by the tax payer and have no real value. Remember the Millenium Dome? Huge expense for the tax payer, and very under used until O2 leased and developed it. Huge expense, public money down the drain, no real benefit to anyone except a very small area in London. This will be the main concern around the Austin GP. Maybe if there wasn't a worldwide recession then the funding would have remained in place but the cash is needed for more important venture.

[bhall]

The US has a rich heritage of home-grown motorsport; it doesn't need F1 any more than F1 need the US. The only beneficiaries of this race appear to be Bernie and his CVC buddies...an empty Austin GP is no better than an empty Turkish GP it seems to me.

I don't think attendance will be an issue at all. The USGP in Indianapolis was always the most attended grand prix of the year. I don't see that changing with the race being in Austin, as it's a much better destination to visit in its own right than Indianapolis will ever be.

In that regard, I think the USGP will benefit more from Austin than Austin will benefit from the USGP, and the citizens of Austin and Texas shouldn't have to pay for the event.

Of course, they could do what Dallas did when Jerry Jones decided he needed a new home for his Dallas Cowboys and add a tax for hotel stays and car rentals so that only tourists and business travelers are made to pay for his 1.5 billion dollar monstrosity.

[volarchico]

I know at least 2 people who will be there, so the stands won't be entirely empty!

[xpensive]

2012 USGP in question?

http://www.grandprix.com/ns/ns23292.html

So there we are, even in the home of free market economy, the F1 profiteers has found a way to scam the taxpayers?

[WhiteBlue]

I don't think that will become a great problem. The council should know on which side of the bread the butter belongs. The investment will pay back in improved employment and increased tax revenues. The special event fund was clearly invented just for such a purpose and should be applied for this case. Texas and Austin would be hard pressed to find a better case for investing in an international mega sporting event.

[Mr Alcatraz]

2012 USGP in question?

http://www.grandprix.com/ns/ns23292.html

So there we are, even in the home of free market economy, the F1 profiteers has found a way to scam the taxpayers?

This 25 mil was gone last month I was going to post the link. I watched the politician making the plee for giving the money to the schools It's not that big of a hit. It's hard to argue with a politician saying that there is more of a need for the money in education, than venture capital for Auto Racing. From what I've read there is a lot of corporate backing for what they are calling this multi use facility. You have big names in the computer industry in Austin, and the University of Texas Austin is going to use the facility in some capacity. Texas is the only State in the US that has a healthy enough economy to have a chance to make this work. Plus Texas is where a disproportionate number of American Motorcycle Road Racers get started. Moto GP has at least two Texans currently excelling Ben Spis I spelled that wrong and Nicky Hayden, and there have been others. Texas is where you go in the US if you want to be a motorcycle road racer. With the event coming in 2013 I believe that event will be hugely attended.
As for Fontana, Southern California is not into NASCAR anything like the Bible Belt. I only watch to follow Montoya. I think the vast Majority of citizens of LA would much rather go to the Beach than a NASCAR Race. That is not true in the South.
F1 interest has really picked up over the last few years, and I think that Austin has a good fighting chance. Montoya used to bring hordes of fans to Indy. Perez could bring many more.
America is ready for F1 IMO. If they build it, they will come.

[andrew]

This was on the cards weeks ago. Of course it is 100% correct that public money should not fund an event like this, especially in a recession.

If it is guaranteed that the $4 million of public money can be recouped after the first race then maybe there is a case for public money being used on a plaything for the local wealthy and tourists. Of course there is no guarantee, the race could be a flop especially if there is an ostrich show on near by.

The investment will not necessarily pay back in improved employment and increased tax revenues. The employment will be short term and given the track's location, just how many locals do you think will be working there. I suspect not too many.

Given what this $4 million could be spent on (education, health, infrastructure) there is no cause whatsoever for public money to be invested in this race.

For example, my tax money is going towards the London Olympics. You may think that is a good thing, but I assure you it is not. I have no interest in the Olympics and will certainly not be watching or attending. This will benefit a small number of people for a very short period of time and then what? Something else for the government to bail out with the tax payer's hard earned cash.

Public money should not be used in private enterprise willy nilly, except in extreme circumstances.

[dren]

I'd be happy in a sense if I lived in Austin. At least money I'm forced to pay the government would be used for something I enjoy rather than all of the other BS.

The statement should really read public money should not exist.

[xpensive]

I don't think that will become a great problem. The council should know on which side of the bread the butter belongs. The investment will pay back in improved employment and increased tax revenues. The special event fund was clearly invented just for such a purpose and should be applied for this case. Texas and Austin would be hard pressed to find a better case for investing in an international mega sporting event.

Classic socialist rethoric, "a public investment which will pay pack tenfold". With such argumentation, you could easily find reasons for any kind of government spending, it just so happens that F1T members enjoy Formula One, nothing else.

When the bill for the Swedish "Gripen" fighter aircraft has passed 20 billion EUR, its supporters will of course arue with the
same old song, "it has paid back tenfold", basically the same crap from the same special interests as F1T members.

@ andrew, you're my kinda guy!

[strad]

So the public should pay for something a lot of them probably don't care about?

The idea is that it does benifit the public even if they personally have no interest...It's the same everywhere.