Full Throttle

“Location, location, location,” is the phrase used most often when pitching a real estate project.

As demonstrated by the map at left Fort Erie, Ontario would be an ideal spot if the objective is to pull in racing fans from up state NY, New England and the upper mid-western states of America.

Race track proposals seem to be a dime a dozen the last five years or better, so what follows should be taken with a grain of salt, but this proposal does have a slight twist that I’ll get to in a minute.

This track proposal would cost in the $150 million range, be a one mile oval configuration, employ 80 full time and 2,500 part time and bring with it a $150 million to $200 million annual economic impact to the area.

The location is also a hop, skip & gambling chip toss away from Fort Erie Race Track & Slots, Niagara Fallsview Casino and other southern Ontario attractions. The location is only 2 miles from the Peace Bridge a vital transit link between the United States and Canada.

Fort Erie Mayor Doug Martin, Jim Thibert, who is the general manager of the Fort Erie Economic Development and Tourism Corp., and Sandra Pupatello, Ontario’s minister of international trade and investment, are meeting with the potential speedway investors.

It’s those investors where my implied twist to the story comes in.

The local investor isn’t new to the scene. Niagara Falls, Ont., residents Jay and Jesse Mason are the local partners on the project. Mason has said the area is ideal for a racetrack of this size because of its proximity to Niagara Falls, Ont., and the U. S. border.

Indeed it is, but he’s said that about another proposed NASCAR project near the same area three years ago.

Those plans were dropped when the property didn’t meet certain NASCAR requirements including access issues. The Province of Ontario also balked at building a special off-ramp from the Queen Elizabeth Way (QEW) that would have serviced the track.

The new location already has direct access to QEW and Jay Mason has taken a page out of Bernie Ecclestone’s book of “Going Where the Money Is,” namely Big Oil. (Standby for twist.)

Officials from Fort Erie Town Hall confirmed that Mayor Doug Martin, Jim Thibert and Sandra Pupatello are in the United Arab Emirates as central figures in the Ontario International Investment team that is taking part in Dubai’s Cityscape Expo.

While there, the trio are reportedly meeting with investors in the proposed $150 million (Canadian) speedway. If the trade mission is successful the Dubai investors would team up with Jay and Jessie Mason on the track.

You have to hand it to the Mason’s, they’re persistent, and now they realize if they are to build a NASCAR served cash cow they have to go, at least in these economic times, where a cash cow gets it’s feed. The Middle East.

Not that there’s anything wrong with that, money is money and the more race tracks the better in my book.

NASCAR needs to be better served in Canada, the most likely tenets being the truck series and possibly NNS. (Cup, forgetaboutit!) The real advantage would be realized for the NASCAR Canadian Tire Series that at present compete on smaller tracks than one mile.

A local so-called super speedway would raise the level of competition and provide a smoother bridge for Canadian drivers attempting to break into the top tier of NASCAR south of the border.

UPDATE: The illustrious blogger, and Canadian, Gary Grant (no relation to Cary but he may wish for that) has an update to this story.

The Middle Eastern investor is the Kuwaiti Islamic investment bank Bayt Al Mal Investments and their proposal includes a 2.5 mile road course as part of the plan.

Gary rightfully suggests the area would be a prime spot for the return of F1 and the Canadian Grand Prix. To that I would add, maybe, if Bernie Ecclestone suddenly gets a clue from “Clues R Us,” (if he had one N. American would still have a GP) but I don’t see that happening any time soon.