Tax fig­ures not avail­able for months

F1

Austin American-Statesman - - FUNERALS AND MEMORIALS - B

and other doc­u­ments.

Combs sent a let­ter in Au­gust to City Man­ager Marc Ott say­ing the state would ear­mark $29.3 mil­lion for the event.

Mes­sages to cir­cuit of­fi­cials weren’t re­turned Tues­day.

Although it will be months be­fore re­li­able tax rev­enue fig­ures are avail­able, early indi­ca­tions are the event gen­er­ated a con­sid­er­able amount of ad­di­tional eco­nomic ac­tiv­ity.

The ques­tion re­mains, how much ac­tiv­ity and did it match the pre-event es­ti­mates?

For ex­am­ple, the eco­nomic pro­jec­tions submitted by the race or­ga­niz­ers es­ti­mated $52 mil­lion in ho­tel rev­enues re­lated to For­mula One over the seven days end­ing on race day.

Ac­cord­ing to statis­tics com­piled by Smith Travel Re­search, which tracks ho­tel in­dus­try data, ho­tels in the Austin

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.