LAS VEGAS (KLAS) — The Arts District, about three miles from the F1 track, features all sorts of locally owned stores, restaurants and breweries.
Yovani Barrera owns one of those stores, Bring it Back, a buy-sell-trade store for hip shoes and clothing.
“Nothing crazy like ‘F1 crazy’ It’s more like, if it’s a fight weekend or some sort of other event happening on a weekend, big concert, that kind of traffic,” Barrera said.
Applied Analysis principal Brian Gordon explained to 8 News Now how the Las Vegas Grand Prix’s economic impact looks at a whole year of spending. Casinos and resorts get their chunk of change during race weekend, but everyone who gets paid for working around the track is a contributor, spending their money throughout the valley.
“They go to their doctor’s office, they go to a grocery store,” Gordon said. “All of that spending essentially ripples throughout the economy, and so it is impacting almost every corner of the market.”
For example, if a race employee spends some of their paycheck on a pair of sneakers at Bring it Back, the grand prix now has an impact on a local business. Regardless, business owners like Barrera would like to see some more support downtown.
“It would be nice, get a lot more local support. Like I said, it’s all holed over there,” Barrera said.
Barrera said it’s always good to have another busy weekend, but he’s not sure if it’s worth putting up with traffic and construction.
The Las Vegas Grand Prix did make an effort to promote small businesses, with valley restaurants providing food around the track during the 2024 race. They also made a local business directory, listing different valley-based services for F1 teams or employees.
