Local officials in Nevada recognize the Las Vegas Grand Prix as an annual event through at least 2032.
Local government officials estimate that the inaugural event, which will take place beneath the lights on November 18, will have an economic impact of $1.2 billion to the Las Vegas region.Officials in Las Vegas have approved a resolution that will grant Formula 1 permission to close the Strip and required nearby public roads, through 2032.
Formula 1 itself is co-promoting the event and acquired a 39-acre plot of land, to house the pits and paddock complex and start/finish straight, at a cost of $240 million.Getty Images The commission was requested to recognize the Las Vegas Strip Circuit on public and private rights-of-way in Las Vegas, including those controlled by Clark County that require closure.
The resolution was passed unanimously, 7-0, which will enable Formula 1 to run the Las Vegas Grand Prix through 2032 in the outlined location and between the specified dates.“I think it’s important to note we have a three-year contract with Formula 1, but we anticipate a lifetime together in partnership,” said Clark County commissioner James Gibson.
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