April 2025

6 local economy in ways that are impossible to ignore. From hotels and restaurants to small businesses and ma- jor sponsors, the Grand Prix generates a financial wind- fall that benefits everyone. According to recent reports, the event injects over $50 million into the St. Peters- burg economy annually — a figure that’s only expected to grow. But where does all that money go, and who reaps the rewards? Let’s break it down. First, let’s talk tourism. Race weekend transforms St. Pete into a destination hotspot. Hotels book up months in advance, with many offer- ing race-themed packages to draw in visitors. Restau- rants and bars along the wa- terfront see packed tables as fans fuel up between races, creating a boom in food and beverage sales. Even local shops and boutiques get a boost as tourists explore the city between practice laps and main events. Beyond tourism, the Grand Prix fuels job creation. The event requires a massive workforce — from track builders and event staff to The Business of Speed How the Firestone Grand Prix Fuels the Local Economy The Firestone Grand Prix of St. Petersburg isn’t just a thrill- ing motorsport event — it’s an economic engine that pow- ers the city. Every year, this high-speed spectacle brings more than just race cars to the streets; it brings thousands of fans, businesses, and opportunities that ripple through the Photo by | Unknown