Brian Bielanski, Editor

(RacingWire) – The new facility set to host the Formula One United States Grand Prix in 2012 has its official name, the Circuit of the Americas. The name is symbolic of the multi-national plans for the track's use.  Laguna Seca Moto GP Reax

“We are building a destination for entertainment and business, not simply a race track, and this brand reflects that entire idea,” said Tavo Hellmund, Managing Partner of Full Throttle Productions, L.P. and Chairman of Formula 1 United States Grand Prix™. “Racing days will account for a total of about 30 days a year, but great performances and winning ideas will be inspired by this brand every day.”

Also announced Tuesday, a deal to bring MotoGP to the Austin, Texas based track starting in 2013. The MotoGP deal is a 10 year commitment to bring the world's top motorcycle series to the track.

“We are delighted to be adding the Circuit of the Americas to the MotoGP calendar. It is an honor to expand our Championship to Texas, which has a rich history of producing World Championship riders,” said Mr. Carmelo Ezpeleta, CEO of Dorna Sports, S.L. “We have had a wonderful and special relationship with Kevin Schwantz for twenty years and often talked about a mutual dream of increasing the popularity of MotoGP in the U.S. and raising our already successful worldwide profile. Now, with what Tavo Hellmund is doing in Austin, we have realized that situation and are looking forward to this new venture together. The 10-year agreement is a sign of our confidence and commitment to the future success of MotoGP racing in Austin.”

Legendary sports team owner Red McCombs is one of the partners building the track. “It's a big deal and we are all really really excited,” McCombs said. “It's like having a Super Bowl every year for 10 years.”

Track management touted the $3-6 billion estimated economic impact the facility will have on the area economy.

Artist renderings of the faculty indicate it will be a mulch-purpose venue with business meeting and conference capability. In addition, a live music stage will allow for the venue to be used for much more than just motorsports.

The track itself will be a 3.4 mile permanent road course and with garage spanning the length of three football fields.

The Circuit of the Americas is scheduled to host its first Formula One Grand Prix in 2012.