This proposal represents a dual-position solution for Formula One in America, New York, as the new global beacon of Formula 1 Racing. Comprised of a large-scale, temporary race venue within the expansive oceanfront park Jones Beach, and a permanent Formula One advertising campaign in Manhattan. - Formula 1 New York
Both the improvements to Jones Beach and a permanent Manhattan-based promotional-campaign would be achieved first through a self-beneficial, temporary re-assessment of Formula One's own remarkable (existing) resources. Since after 60 years, the importance of being in New York presents to the Formula One family the justification to invest in New York.
Second, through increased commercial advertising revenue, only New York could ever possibly hope to generate for F1. Since a credible and sustainable dual-position presence by F1 in New York would attract sponsors to F1, both large and small.
The race venue at Jones Beach State Park would require a Public-Private Partnership (PPP) between F1 and New York State. New York State would have to adopt a Public-Private model due to the project's scale and global scope. Of course, a less formal Park Use Agreement is also possible.
Either would allow Formula One a large-scale temporary venue with a circuit surrounded by elevated grandstands, distant from residential homes. Essentially, a much needed American-centric circuit providing the majority of spectators the highest level of race visibility, something a street race or traditional circuit cannot provide.
Here at Jones Beach, motorsport fans, and F1's target market within the New York Tri-State Area, which is within driving distance of Jones Beach, can finally connect with Formula One year after year.
Improving Jones Beach, rendering it a temporary race venue, while simultaneously creating 45 acres of new parkland, amounts to little more than re-grading and re-landscaping the area indicated below in yellow. Therefore, costing far less than The Circuit of the Americas since the infrastructure at Jones Beach already exists.
Jones Beach can easily accommodate such a large-scale event while providing ample space for public team-pavilions, private hospitality, secondary viewing areas, an abundance of advertising space, while functioning as a temporary annual platform to promote all F1 races and their respective host countries, thus emphasizing F1's global appeal.
The Jones Beach proposal for F1 addresses both the practical and logistical issues of where 20 F1 cars can race within New York, distant from residential neighborhoods, where 100,000+ people can gather, while simultaneously providing Formula One, an extraordinary oceanfront venue.
Formula 1 New York
In Manhattan, a strategic, joint advertising campaign by the many companies that constitute F1 would reach F1's global target market, increase F1's newsworthiness outside the motorsport sector, and promote all F1 races as well. Effectively eliminating any potential discontent by independent F1 promoters worldwide due to an F1 partnership model with New York State.
Together, this dual-position strategy (Jones Beach & Manhattan) could provide Formula One the ever so elusive prerequisite increase of its audience, required to attract sponsors large and small, increase revenue, and essential for a successful and sustainable two-race U.S. platform.
Permanently advertising F1 from Manhattan (scope and scale to be determined) means simultaneously projecting F1 outward, locally, nationally, regionally, and yes, globally, by New York's unique position as a truly global city.
On the regional level, a credible presence by Formula One in New York, with not one, but two locations, consent the proper re-branding of F1 in North America. Accomplished through a collective effort by Formula One Group and the many multi-national companies that constitute F1 and the prestigious world of F1 team sponsors.
By seasonally modifying their existing North American advertising campaigns (at least initially) with as little as a Proud Sponsor of Formula 1 Racing comment, video-clip, or graphic, possibly indicating the North American race dates and logos.
In doing so, each company reinforces its respective brands existing connection to F1 while projecting a much-needed unified and symmetric image of F1 to its target market within North America.
Cross advertising the North American races on such a scale, across so many diverse commercial sectors, by so many companies, in a collective effort, would meaningfully connect F1 to target audiences in this part of the world, resulting in increased audience and sponsorship revenue.
Conversely, the benefit of a Public-Private-Partnership to Jones Beach and New York State could be structured in one of three ways. A fixed-fee model, or a floating-fee model, in which F1 returns a portion of the event revenue to the park. Third, through the proven incremental tax model.
Since F1 is comprised of some of the world's leading most respected companies, F1's presence in New York State, with its 3-day global marquee event, would be formidable. The economic-impact and subsequent incremental tax generated by F1 would be significant.
The incremental tax generated by F1 New York would surpass both the incremental tax generated in Austin, Texas, and the preliminary $400 million economic-impact estimates for the proposed race in Miami, at Dolphin Stadium, which has been postponed.
Through this proposal, the incremental tax revenue generated annually by F1 in New York would be calculated by New York State, then equitably divided between the park and F1 based on the event's parameters and scale. The parks portion could be re-directed back to Jones Beach through a proposed Jones Beach Fund (JBF),
The cumulative Jones Beach Fund could support the park in a manner not seen since the days of Robert Moses, with significant annual funding, which would not otherwise exist.
Such funding would pay for park maintenance costs, including 45 acres of new parkland created through this proposal. Also, fund increased public services, restoration, conservation, dredging, mosquito abatement, proper public seating, reflecting pool at the main mall, etc.
The U.S. Grand Prix at Jones Beach proposal is based upon an equitable partnership between New York State and Formula 1 Racing, and a dual-position strategy for F1 consisting of Jones Beach & Manhattan, thus establishing Formula 1 New York.
The benefit of this proposal to Jones Beach, New York State, and the public is:
The benefit to F1 begins with the achievement of F1 New York, and the launching of a new era, both, a part of an all-encompassing 7-layered solution:
A PROPOSAL TO BRING Formula 1 racing TO NEW YORK
U.S. GRAND PRIX AT JONES BEACh - USGP JB
Copyright © 2020 - All Rights Reserved