A Contract for the Region

Developing the Nürburgring will increase the number of jobs there to more than 1,000. The net domestic product generated by the Nürburgring in the region is enormous. No longer hosting Formula One racing every year will admittedly noticeably relieve the pressure on the balance sheet of the Nürburgring GmbH. The loss of the knock-on effects on the regional economy, which were considerably greater than the operating losses sustained by the Nürburgring GmbH, and the around 200 jobs directly threatened as a result, illustrate the need for alternatives and additional added value. Together with Frankfurt-Hahn Airport, the Nürburgring development project is the biggest economy-boosting measure by the Land Rhineland-Palatinate. The additional income generated by the development project and the new facilities will also guarantee the financing of Formula One racing at the Nürburgring until after the present contract expires in the year 2011. Formula One alone generates a turnover per race of around 60 million euros in the region. Bernhard Ecclestone too was excited at a presentation of the construction plans and strategies, and confirmed that for Formula One racing – in particular for Formula One racing – the Nürburgring had made the right decision and that it was internationally competitive.