Here at Jones Beach, motorsport fans, and more importantly the non-motorsport public of F1's target market within the New York Tri-State Area, which is within driving distance of the park, can finally connect with Formula One year after year, within a desirable, memorable, oceanfront environment.
The size of this proposed venue at Jones Beach allows ample space for public team-pavilions, private hospitality, secondary viewing areas, and an abundance of advertising space. In addition, the Jones Beach venue can function as an important annual platform to promote all F1 races and their respective host countries, thus emphasizing F1's global appeal.
While in Manhattan, a strategic, joint advertising campaign by the many companies that constitute F1, would properly expand public awareness, increase F1's newsworthiness outside the motorsport sector, and promote all F1 races. 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, 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 global city.
On the regional level, a credible presence of F1 in New York consents the proper re-branding of F1 in North America, 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 One” 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 increase visibility of F1 to potential audiences in this part of the world.
Conversely, the benefit to Jones Beach and New York State, from this proposed Public Private Partnership, could be structured in one of two ways. First, through a fixed-fee or floating-fee model whereby F1 simply returns a portion of the event revenue back to the park. Second, 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 in 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.
Through this proposal, the incremental tax revenue generated annually by F1 would be calculated by New York State, then re-directed back to Jones Beach through the establishment of a proposed Jones Beach Fund (JBF), then equitably divided between the park and F1.
Managed by New York State, 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 that of the newly formed parkland created under this proposal. 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 One Racing, and a dual-position strategy for F1 consisting of Jones Beach & Manhattan.
The benefit of this proposal to Jones Beach, New York State, and the public is significant reoccurring annual funding, a 21st century global marquee event, and considerably expanded parkland for public recreation.
The realization of F1 in New York, means the launching of a new era, while providing F1 an all-encompassing 7-layered solution:
- New York as F1's global beacon
- increased local to global visibility
- increased audience
- increased sponsorship revenue
- an American-centric F1 circuit
- a sustainable two-race U.S. platform
- the motorsports event of the century
