LAS VEGAS (KLAS) — Clark County has approved Formula 1 to host the Grand Prix in Las Vegas through at least 2032.

On Tuesday, the Clark County Board of Commissioners recognized the Formula 1 Las Vegas Grand Prix as a beneficial annual event and passed the resolution unanimously. 

“We have a three-year contract with Formula 1, but we anticipate a lifetime together in partnership and this will open the pathway to be able to do this for at least 10 years,” Commission Chairman James Gibson explained.

Now the clock is ticking with the upcoming 2023 Las Vegas Grand Prix.

The track and building are on schedule according to Project Manager Terry Miller. 

“It’s a thousand feet long so larger than three football fields and one hundred feet wide so twice a football field. It’s pretty significant in terms of size and configuration of this building on that site,” he said.

Once complete in November the building will serve as the headquarters for years to come. 

“This is where the Las Vegas Grand Prix will basically be seen worldwide as the flagship for North America. It’s a project that is underway and a project that has received significant attention for its design,” Miller added.

As for the track, it will go right through the heart of the Las Vegas Strip utilizing various county streets. 

“We’re going to have 17 different turns on the track,” Miller stated. “We’re going to reach miles per hour of 212.”

The estimated economic impact is more than a billion dollars, along with the creation of a few thousand jobs.

The resolution waives the 120-day limitation for filing special event applications for Formula 1 and grants use of Las Vegas Boulevard South during the November timeframe each year.

The Las Vegas Grand Prix is scheduled for November 18, 2023.