Aventura Marketing Council/Chamber of Commerce Board Members Virtual Board Meeting re: Formula 1 Racing, Coming May 2021

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In this new era of all online meetings, Board Members of the Aventura Marketing Council/Chamber of Commerce recently spoke to Marcus Bach-Armas, Senior Director of Legal and Government Affairs, for the Miami Dolphins and Hard Rock Stadium. Formula 1 is the pinnacle of motorsport and has been held in some of the world’s most prestigious communities for 70+ years, including Monaco, Barcelona, Rio, Singapore and Shanghai. Each race has a viewing audience of over 100 million for each of its races, bringing 60,000 to 110,000 spectators to the race destination, with the majority being tourists that travel to the race from outside the local community.

Economic Impact

The economic impact of the race week will be tantamount to a Super Bowl each year, generating approximately $400 million in economic activity, including spending at local hotels, restaurants and attractions, 35,000 hotel room nights and more than 4,000 jobs, from full-time executive level to event staff and internship opportunities for local students. The Formula 1 Miami Grand Prix would take place in May of each year, delivering a marquee event and economic benefits at a time when our tourism season is normally the slowest. And while certain neighbors have opposed the race, alleging that it will be disruptive, scientific studies have repeatedly proven that Formula 1 is quieter and less disruptive than other existing events in Miami Gardens, including Jazz in the Gardens and other local concerts.

Years of Effort

In 2017, Formula 1 began exploring a race in Miami, and in the course of their exploration, partnered with Stephen Ross to host the Formula 1 Miami Grand Prix. Both the Port Miami area and Hard Rock Stadium were considered. Hard Rock Stadium became an obvious choice given its recent renovation, the existing infrastructure it can provide as South Florida’s largest sports and entertainment facility and site, and the fact that it is specifically zoned for motor vehicle racing events under the ‘Stadium District’ zoning designation that was passed by both the County Commission and the Miami Gardens City Council in 2018.

Formula 1 Racing will become a point of pride that benefits everyone.

Have Questions?

For more information, contact Marcus Bach-Armas at 305-943-6720.


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