Weehawken, New Jersey, a town known for an excellent view of downtown Manhattan and being the site of the Hamilton-Burr duel, will add another point of significance to its resume: a Formula One race.
Well, a provisional one at least.
The head honchos of Formula One have released the race calendar for the 2014 season and among a few new entries is the Grand Prix of America. Set to run through the streets of Weehawken in front of a backdrop of downtown Manhattan, the race would take place on June 1.
There is still room for the event to fall through as it did last year, but organizers managed to get the race on the calendar and preparations are being made in Weehawken, which increases the likelihood of a concrete date.
In addition to this, Bernie Ecclestone, the CEO of Formula One Management, has been keen to get grand prix racing back on the American consciousness and a race with such proximity to New York City would be a prime opportunity to do so.
And could there be a better time to do it?
With the first United States Grand Prix since 2007 held last year in Austin, Texas and the movie “Rush” premiering this year, Formula One is certainly increasing in importance on the American stage. The US Grand Prix saw a three-day attendance of 265,499 and the movie “Rush” raked in $70,095,674 at the box office.
The interest is there. However, it’s missing one crucial component: an American driver.
There hasn’t been an American presence in Formula One since Scott Speed’s forgettable stint in 2007. There hasn’t been a figure whom spectators in the US can get behind to support throughout an entire season. For many in the US, this is where interest in Formula One dies. Without a tie to home, the sport becomes a traveling sideshow, only in our time zone twice a year – within our borders just once.
But that one time certainly counts.
Last year’s US Grand Prix gained global media attention for Austin, and was worth an estimated $192.1 million according to a report by the city of Austin. Over the course of the race weekend, hotels in Austin took in an estimated $32 million, representing only a portion of the economic growth that took place.
Being organized from country to country rather than city to city creates a scenario in which spectators are likely to travel from all over to attend. Local lodgings and businesses tend to flourish over the race weekend. The estimated economic growth expected from a race in New Jersey is $100 million.
While the financial benefit of hosting a grand prix creates a decent incentive for US cities to host, there is still the question on whether Formula One is something that the American people need or even want. That being said, the costs involved in actually running a team are notoriously high for car manufacturers. Is there any benefit to the US manufacturers to participate in such an expensive sport? Pride in our product is a compelling reason.
When was the last time we could feel proud of the US automotive industry? Year after year, our brands have died off one by one. Our markets are saturated with foreign cars. Our makes seem to pale in comparison to their European and Asian counterparts. Our cars, whatever the quality, lack glamour and excitement. Ford lacks the same ring as the big foreign names like Ferrari, Lotus and McLaren – all of which compete in Formula One.
Formula One is the pinnacle of motorsport. Countless advancements in automotive technology have emerged from Formula One cars – from aerodynamics to tire construction. The US needs to get back into this field. One of the best ways to compete with foreign carmakers is to literally race them on a global level.
At the end of the day it all starts with interest. While Formula One is certainly not at the forefront of every American’s mind, a grand prix in New Jersey is a good start and a good incentive for our own brands to seek future entrances into the sport. It’s high time that our manufacturers become leaders in automotive technology.
