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pchall
02-17-08, 01:09 PM
http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=438&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com


AN INDY car racing track is soon to be built in Blue Hills to kick start the Premier’s vision of turning the TCI into the “Monte Carlo of the Caribbean.”

This week Michael Misick signed an agreement with the Indy Racing League (IRL) to put on an Indy Turks and Caicos Grand Prix in Providenciales.

He said that the race, slated for next February, will become a yearly event and will help to promote the TCI as a high-end tourism destination.

“We are very proud to be associated with the Indy Racing League,” the Premier said.

“We are really looking forward to putting on an exciting race - a race that we hope to develop into one of the pre-eminent races, not only in the Indy League but also in the world.”

According to a Government spokesperson construction on the racing track in Blue Hills is set to begin “in short order.”

Tony George, president and chief executive officer of the IRL, met with the Premier, Floyd Hall, Deputy Premier and Minister of Finance, and Jeffrey Hall, Minister of Works, on Thursday, January 31.

Together they signed the letter of intent as well as surveying the areas where the track is to be laid and sorting out the logistics for the event.

Mr George said: “This is a very exciting opportunity for us to come to the Turks and Caicos and have the opportunity to really use this as a spring board to launch our season every year.

“I think that the timing of a February event could be a great way to start off our season on an annual basis.”

He added that he was very excited to work in “developing this opportunity, that I’m sure will be good for everyone concerned.”

“We have used our energies and creative ideas to come up with activities to make an entire week of events around what would be in our first event of the season.”

The Indy Turks and Caicos Grand Prix will kick start the year of events for the IRL and will include up to five hours of non-stop racing related activities which will be broadcast live on EPSN, NBC and ABC.

Mr George said: “This is a very exciting opportunity for us to come to the Turks and Caicos and have the opportunity to really use this as a spring board to launch our season every year.

“I think that the timing of a February event could be a great way to start off our season on an annual basis.”

The promoters for the event will be Andretti Green Racing, which is a leading promoter of racing events, and owned by Michael Andretti, the former race-car driver.

The Indy Racing League is the sanctioning body of a predominantly American based open-wheel racing series.

The league consists of two series, the premiere IndyCar Series, whose centrepiece is the Indianapolis 500, and the Indy Pro Series, which is a developmental series for the IRL.

trish
02-17-08, 01:20 PM
Does that mean Honda is paying?

dando
02-17-08, 01:20 PM
Yeah, but will there be enough beach volleyball for the real fans? :tony:

-Kevin

pchall
02-17-08, 01:48 PM
I was wondering when AGR became a leading promoter of racing events? If Honda isn't paying then they must have the drug runners who fly out of TCI funding this.

trish
02-17-08, 01:50 PM
Don't they supposedly promote St Pete?

dando
02-17-08, 02:19 PM
Don't they supposedly promote St Pete?

Yes, they do a fine job of $pending HoMoCo's yen.

-Kevin

cameraman
02-17-08, 02:19 PM
The bloody government is going to build some manner of track on a 2 mile by 2 mile spit of land north east of the airport. This has to rate up there as one of the stupider expenditures of public money:shakehead

stroker
02-17-08, 04:16 PM
Although I find the timing of this announcement coming on the heels of FTG's trip to Nippon interesting...

pchall
02-17-08, 05:27 PM
Although I find the timing of this announcement coming on the heels of FTG's trip to Nippon interesting...

Buried in the middle of the article is the date of signing the agreement -- January 31, 2008. Before the trip to Japan.

stroker
02-17-08, 06:10 PM
Buried in the middle of the article is the date of signing the agreement -- January 31, 2008. Before the trip to Japan.

Still far too close for comfort.

tantra
02-17-08, 10:19 PM
Will the total population of 18,700 (including infants and young children) all get jobs serving the half-million or so foreigners who fly in for a few days? I wonder if any of the folks who actual live and work on the islands will derive much from the race. Most of the businesses that cater to tourists in such places are owned by the cruise lines.

cameraman
02-17-08, 11:10 PM
The Island had a population of about fifty until the government decided to start building condos and hotels. It has no native population and the people who live there are retirees, hotel employees and people who tend to tourists and retirees. The hotels on the island are not very big. The majority are high end boutique type places.

What I can't figure is the island's economy is based on reef divers and beach combers looking for peace, quiet & natural beauty. That is what they market.
Look at this place: http://www.northwestpointresort.com/home.php
It is a mile from the proposed track location. And the track location is also bordered by the Northwest Point Marine National Park and Nature Preserve. That is the money maker, diving in the park. How the hell do you reconcile a race track with back to nature reef diving?

pchall
02-18-08, 12:15 AM
Will the total population of 18,700 (including infants and young children) all get jobs serving the half-million or so foreigners who fly in for a few days? I wonder if any of the folks who actual live and work on the islands will derive much from the race. Most of the businesses that cater to tourists in such places are owned by the cruise lines.

If this really comes off I bet there aren't 5k people there for the race and all of them flown in by the IRL and Honda if they still care. This race is so implausible that only Joe Heitzler could have dreamed it up.

tantra
02-18-08, 12:30 AM
Oh, pc, you just don't have 'the vision' yet. Drive up to Indy and ask TG for a paper cup of that purple juice. :)

On a more rational note .... who the hell thinks that thing will fly? And, anyone know what it costs these days to build a race course? Maybe Turks will use some of the money they have in there 'laundries'.

Why the Turks & Caicos islands ?
• No income tax
• No real estate tax
• No capital gains tax or capital transfer tax
• No value added tax
• No estate duty tax or inheritance tax
• No gift tax
• No land tax
• No withholding tax
• No tax treaties and therefore no exchange of information with foreign countries
• No exchange controls, no restriction on how muh can be brought in or out of the country
• Economically & politically stable
• Strict secrecy laws
• British dependant territory
• Ideal climate & geographical location
• Excellent communications system
• Laws conducive to conducting business in a tax free environment
• The most beautiful scuba/snorkeling waters anywhere in the world
• Virgin fishing waters
• Conduct business with pleasure in a congenial atmosphere with the government’s encouragement

tantra
02-18-08, 01:05 AM
Just some general info.
The 18k is made up of an immigrant population of Haitians, Dominicans and Cubans as well as many residents from all over the world. The majority are Canadian and American, but there are also residents from South Africa, Europe, Oceana, South America and Asia.

So which ones do you think have the wealth, and which ones change the sheets at the resorts? That was the basis for my question, who pays for the race course and who benefits from a race.