Governor Rick Perry marked the October 28 announcement of the Circuit of the Americas’ phenomenal economic impact in the Austin region by reiterating what he’s been saying for more than a decade: The business climate in Texas attracts men and women of vision and allows them to realize their dreams, and that creates jobs and boosts the economy.
The October 28 report by the economic consulting firm Greyhill Advisers put the economic impact of COTA’s racetrack and special events center on the Austin region at $897 million between October 2013 and September 2014. What’s more, COTA has averaged nearly $700 million per year and had a $2.8 billion cumulative impact on the region since it broke ground in 2011. The economic impact of the 2013 U.S. Grand Prix alone was $507 million. MotoGP and the X-Games generated $161 million.
For perspective, the economic impact of last year’s Super Bowl, which had a record number of viewers, was $111 million. The 2014 World Series is expected to produce about $20 million in economic activity, at best.
The 2014 U.S. Grand Prix at COTA drew a crowd of 237,406 over the weekend.