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 at Jones Beach, and a permanent Formula One advertising campaign in Manhattan. - F1 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 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. A Public-Private model would have to be adopted by New York State in lieu of the projects 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 simply cannot provide.
Improving Jones Beach, rendering it a temporary race venue, amounts to little more than re-grading and re-landscaping the area indicated below, resulting in 45 acres of new parkland, Therefore, costing far less than the building The Circuit of the Americas from the ground up, since the infrastructure at Jones Beach already exists.
Formula 1 New York
Essentially, Jones Beach can address the practical question of where to hold a race within New York?
Here at Jones Beach, motorsport fans, and more importantly 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, within this most memorable, oceanfront park.
Jones Beach can easily accommodate all spectators, while providing F1 ample space for public team-pavilions, private hospitality, secondary viewing areas, and an abundance of advertising space.
In addition, the Jones Beach venue can effectively function as a temporary annual platform to promote all F1 races, and their respective host countries, thus emphasizing F1's global appeal.
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 F1 promoters around the world due to a 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 new sponsors, 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 virtue of New York's unique position as a truly global city.
On the regional level, a credible presence by F1 in New York, with not one, but two locations, consents the proper re-branding of F1 in North America. Accomplished through a collective effort by Formula One Group and the many multi-national companies which constitute both F1, and the prestigious world of F1 team sponsors.
By seasonally modifying their existing North American advertising campaigns (at least in the beginning) 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 their respective brands existing connection to F1, while projecting a much, 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 to Jones Beach and New York State, from this proposed Public Private Partnership, could be structured in one of three ways. Through a fixed-fee model, or a floating-fee model, in which F1 simply returns a portion of the event revenue back 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 their 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 dollar 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 scale and parameters of the event. The parks portion would 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 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, etc, 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
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