F1 Las Vegas Grand Prix on the Strip Locked In Through 2032

• Las Vegas on Tuesday approved a Formula 1 race on the Strip through 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.

• Las Vegas will be one of three Grands Prix to be held in the United States in 2023.

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 announced last March that it had secured a deal to race in Las Vegas beginning in 2023, on an initial three-year deal, but made clear it regarded the city as a long-term partner.

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.

On Tuesday, the Clark County (Nev.) Commission heard a resolution to recognize the Las Vegas Grand Prix as an annual event possible through 2032. It estimates 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 local community.

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.

It also outlined that the closures will be "anticipated to take place a few hours a day for five days, beginning on each Wednesday through Sunday, the week prior to the Thanksgiving holiday in November in the years 2023 through 2032," indicating that Formula 1 intends to hold Las Vegas as a late-season slot on the schedule.

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. “This will open the pathway to do it for at least 10 years, and then beyond that, I’m sure those who succeed us will see the value of what we’ve done and continue to do it forever.”

Speaking before the motion was passed, Las Vegas Grand Prix project manager Terry Miller provided an update on progress.

“The clock is ticking, but we are on schedule and we anticipate an exciting event in November,” he said. “We have previously shared the economic impact for the community, as this is a community wide opportunity for vendors.

“Everyone is excited about a new opportunity in Las Vegas and Clark County, we’re very proud of what we’re doing, as it provides labor for construction but also the event itself. It’ll be for years to come—the community impact is significant.”

Miller described the paddock facility as “the flagship for (Formula 1 in) North America”, with the enormous structure to feature an LED logo on the roof in the shape of Formula 1’s logo.

“It’s 3.8 miles of excitement and we are really pleased to bring this to the valley.”

Las Vegas will be one of three Grands Prix to be held in the United States in 2023, with Miami scheduled for May 7, and Austin on October 22.