Formula One race set for New Jersey in 2013

Formula One will unveil a New Jersey Grand Prix for the 2013 season, the mayor of West New York told Reuters on Monday.Formula One chief Bernie Ecclestone has long hoped to bring the world's most lucrative motor sports championship to the New York City area and that will be realized as a deal was reached with a consortium of investors and city and state governments.New Jersey governor Chris Christie will announce the deal at a press conference in Weehawken, New Jersey, on Tuesday."This is going to be an economic boom for this whole region. While political and public servants talk about creating jobs, the governor has put the pedal to the metal and delivered," West New York mayor Felix Roque told Reuters."This is the top of the line in motor racing, its incredible."The race will run along the Hudson River in Weehawken and West New York, according to Joe DeMarco, an attorney with West New York."It will provide a very challenging course - they compare it to Spa in Belgium, but will have the feel of Monaco," said DeMarco, who added that the race will take place on a four-lane highway, two lanes in each direction.The U.S. returns to the Formula One calendar next year with a stop in Austin, Texas, but the New Jersey race will provide a cost-effective way to twin the event with the Canadian Grand Prix in Montreal.