The Circuit of the Americas race track being built in Austin has, like any other major project, proponents and detractors.
As a Texas racing fan who doesn't live in Travis County but likes the exposure special events bring to Texas, here's a few comments about the track and its funding.
The $25 million that is offered to the F/1 track is from the Major Events Trust Fund. The state offers $$$'s to groups trying to bring in the Super Bowl ($32 million to Arlington for the 2010 Super Bowl), NCAA Final Four ($13 million to Houston) and other special events. It's an ADVANCE against the increase in sales taxes in the area that will be generated by the event. The money is to be PAID BACK and everything above the amount generated will be put into the state's general fund - and that pays teacher salaries.
The track in Austin will have a FAR great impact on the Texas economy than any single football or basketball game, rodeo or horse race.
I have been to Austin twice to lobby on behalf of teachers this term. My OWN future employment as a teacher is on the line here, too.
If the Powers That Be (Lt Gov David Dewhurst, St Sen Dan Patrick, Comptroller Susan Combs, et al) continue to sell the line to voters this money is taking away from education and other funding, then shame on them. They need to make the tough decisions to fund education (which they have failed to do!). Their jobs and decisions aren’t easy, but they sought their positions and we elected them to do so!
I'm sure Gov. Perry is all over the track project about creating jobs in Texas - it will create 1,200 - 1,700 jobs of varying degrees, short term and long term.
http://www.austinpost.org/content/f1-metf-fact-vs-fiction
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