Hundreds of thousands of people are heading to South Florida this weekend for the Miami Grand Prix, and local business owners are anticipating the boost. NBC6’s Niko Clemmons reports
Hundreds of thousands of people are heading to South Florida this weekend for the Formula 1 Miami Grand Prix, and local leaders and business owners have been preparing for a while.
Hard Rock Stadium in Miami Gardens is once again hosting the Miami Grand Prix and that means an economic boost for South Florida.
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FORMULA 1 MIAMI GRAND PRIX
The local economy benefited by $449 million from 2023’s race, which was an increase of 29% from 2022. Visitor spending in the Greater Miami region during race week reached over $195 million and total attendance was up nearly 15% in 2023.
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Miami Gardens Mayor Rodney Harris said thanks to funding they received from Formula 1, they were able to renovate homes, give scholarships and help small businesses with grants.
"When you come into our community you have to be able to give something back, and Formula 1 has done just that,” Harris said.
Formula 1 is a big boost for businesses across South Florida and especially in Miami Gardens.
Ruthie Bodie is one of the owners of Lorna's Caribbean & American Grill, which is right across the street from Hard Rock Stadium. She said business was booming the last two years and she expects the same this weekend.
“We are expecting a crowd,” Bodie said. “When you hear those cars revved up, the energy that's over there, the helicopters that's flying in, all the VIPs, it's super exciting.”
Practice 1 and Sprint Qualifying is Friday, followed by the 100-kilometre Sprint and Qualifying for the Grand Prix on Saturday, and then the Grand Prix on Sunday.
