The state spent something like $35 million in incentives to bring the Super Bowl to Dallas. This $25 million for F1 will have an even bigger economic impact each year than the Super Bowl did and is annual rather than a one time thing. A huge mistake to go back on our word and pull the funding that we promised we would give.
The income from sales tax alone that this would bring the state would be far more than they are spending, and in addition to the sales tax there is the more than 1000 jobs that will be created by this.
Hell the All-Star game got $15 million. And it didn't even bring in a fraction of the money that F1 would bring.
Add in that this F1 deal is allowing this track which is already bringing in the MotoGP and is lined up for lots of other big events. I don't see how anyone could see spending that money as anything but a huge win for the State's tax coffers.
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Austin, Texas
London, United Kingdom
Last edited by BevoLJ; Apr 15, 2011 at 12:00 AM.
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