LAS VEGAS (KTNV) — With less than a week until Las Vegas Grand Prix events kick off, Formula 1 is once again extending its impact beyond the racetrack and into the Southern Nevada community, all while local leaders look to the international event to help revive the valley’s struggling tourism sector.
Let's take a look at how the local economy is shaping up ahead of F1
The Las Vegas Grand Prix is partnering with local organizations to donate unused food, beverages, clothing and supplies to families in need. Last year, more than 172,000 pounds of food and drinks were donated to Three Square Food Bank and The Aftermarket, along with clothing delivered to Veteran’s Village and Shine a Light Foundation. More than 100 plants were also donated to Opportunity Village and the City of Las Vegas.
“We were looking for charities that really make a difference here in Southern Nevada,” said Lori Nelson, senior vice president of the Las Vegas Grand Prix. “We believe in sustainability, STEM education, and supporting at-risk youth.”
The Grand Prix also recycled 76,000 pounds of food scraps last year as part of a broader sustainability effort to reduce waste.
This community impact comes at a critical time for Las Vegas.
After weeks of slowed tourism and a recent government shutdown, F1 is being viewed as the event that could help turn the trend around.
Last year’s race generated $934 million in total economic impact, including $45 million in state and local taxes. The event attracted more than 300,000 people, with 175,000 visiting from out of town, and helped workers earn a combined $284 million in wages tied directly to race operations, visitor spending and related jobs.
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“The slowdown we've seen in tourism, and even conventions, has been noticeable,” said Steve Hill, president of the Las Vegas Convention and Visitors Authority. “But the next 14 months show one of the strongest convention outlooks we’ve ever had. That will help form the foundation for recovery, and we remain optimistic.”
F1 also drove significant boosts in hotel, food, beverage and entertainment revenue, sectors that have struggled in recent months.
As race week approaches, organizers say they plan to expand both their donation efforts and sustainability initiatives, ensuring that the excitement of Formula 1 continues to benefit the community long after the checkered flag waves.
