The state governor of New Jersey, Chris Christie, has officially confirmed the intention to host a world championship Formula One race from 2013.
Christie, made the announcement tonight in a press conference also attended by the mayors of New Jersey, West New York and Weehawken, in which lies Port Imperial where the event will be staged.
"It is great to be able to say that in June, 2013, Formula One will be here, for three days, for a 3.2 mile road race, right here at Port Imperial," said Christie.
"You can expect upwards of a hundred thousand people to attend each race over the three days. People from all over the world will be coming to New Jersey to see this race on this unique and exciting course. I can assure Formula One that this is one of the wisest decisions you have ever made, to come and hold this event in New Jersey".
An hour earlier, F1 supremo confirmed the deal, telling Bloomberg, before heading off to India for its inaugural race: "I've been wanting to do this for years. You'll be able to see the Manhattan skyline on TV."
"In terms of the economic impact it is going to be significant," said Christie, "think about bringing well over one hundred thousand people into this area to frequent the shops, the restaurants and the hotels, to be staying here for over three days in a celebratory mood watching one of the world's great road races."