Las Vegas Grand Prix Opens $500M Plaza to Public, Expected to Bring $934M to Local Economy

Emily Prazer, made president and CEO of the Las Vegas Grand Prix in February 2025, is leading Formula One's flagship U.S. race into a new era by innovating and being part of the community. Prazer was involved in the initial development of the Las Vegas Grand Prix in 2021, and now she is operating all the race activities in Southern Nevada. The Las Vegas Grand Prix is the only F1 race in the world where the organization is its own promoter.

Under her leadership, the Grand Prix undertook mega-infrastructure improvements, including a $30 million investment to repave portions of the Las Vegas Strip to allow public streets to be converted into a world-class track. Construction schedules have been more efficient, with night-time work schedules limiting disruption of busy traffic in the city during the day.

A primary part of Prazer's plan is the Grand Prix Plaza, a $500 million, 300,000-square-foot building located at Harmon Avenue and Koval Lane. This modern complex will house the race's start-finish line, pit row, and luxury suites, as well as providing an attraction for fans year-round with things they can do on the Plaza's site, such as motion simulators and a 1,650-foot karting track.

Prazer emphasizes the Plaza's role in community education and engagement, stating, "The ability to use Grand Prix Plaza as a platform to educate folks from the United States and Las Vegas is a remarkable benefit. It drives value as a marketable asset, not unlike an arena or a ballpark, where much of the value is also driven from what you can do there when a team isn't playing."

After listening to local businesses that had experienced race-related issues, Prazer promised to reduce the impact of future events and is working to contest the several continuing lawsuits related to the sanctioning of the race.

The size of the Las Vegas Grand Prix's economic impact is tremendous. The 2024 race still offers $934 million in economic activity for Southern Nevada. 2023 will be slightly north of that number, but it gives you a feeling for how important that race is and how it compares to the $1 billion impact of the Super Bowl in 2024, located in Las Vegas.