Circuit of the Americas Hotel and Convention Center

planned

Houston-based Rida Development Corporation is proposing a nearly $1 billion project featuring a 1,000-room hotel and a 460,000-square-foot convention center adjacent to the Circuit of the Americas Formula 1 track in Austin, Texas. The project aims to deepen the city's tourism economy and create about 900 permanent jobs and 3,800 construction positions. The Austin City Council is considering an economic development agreement with a performance-based incentive structure involving a long-term hotel occupancy tax rebate.