Austin Texas is officially ready to host the first Formula 1 race in the United States since 2007. The race will occur on November 16-18 at the brand new purpose-built racetrack, the Circuit of The Americas (COTA), which was recently completed in Austin.

The Formula 1 United States Grand Prix will introduce millions of television viewers to Texas, and attract as many as 300,000 people for each race, with an estimated economic impact of $400-500 million.

According to Texas Tourism director Brad Smyth, "Texas is already one of the top destinations for sports fans in the country, and the debut of Circuit of the Americas is a unique opportunity for the state to add to this wealth of offerings."

Formula 1 is the highest level of auto racing sanctioned by the Federation Internationale de l'Automobile (FIA), the governing body of world motorsports. The unique 3.4-mile track, which features twenty turns and elevation changes of up to 133 feet, was designed by FIA’s Hermann Tilke. Formula 1 has selected Austin to hold races from 2012 to 2021.

Go here for more information about the track.