Work is still ongoing despite a temporary halt in construction last fall after a dispute between Formula 1, Circuit of The Americas and the State of Texas regarding the race's confirmed contract to come to Austin and the funding it will receive from the state.

"We have not paid out any money for the Formula 1 event," State Comptroller Susan Combs said in the fall. "The only dollars that can be spent on the United States Grand Prix are tax revenues attributable to the successful running of a race. The State of Texas will not be paying any funds in advance of the event. Further, as is the case with all (projects in line for special state funds), each application will be reviewed and analyzed for its likely economic impact, and only after the race occurs would any funds be disbursed."

The project resumed in early December after the contract was confirmed. The site in Del Valle is now on its way toward completion, with hundreds of builders working daily to create integral pieces of the raceway, including the pit and grandstand areas.

The site will host its first F1 race Nov. 18, when thousands of visitors are expected to travel to Austin for the inaugural event. While the grandstands hold 13,000 people, about 120,000 people are expected to attend November's event. An even larger number is the economic impact on Austin as a result of the racetrack's development—$4.5 million in city revenue in 2012 alone.

"We have a substantial number of fans who have expressed interest in

buying tickets and hospitality, so today is a win for all of them as much as it is for Circuit of The Americas," said Steve Sexton, president of Circuit of The Americas. "We encourage everyone to visit our website and register for information. Registered fans will receive the first communication regarding ticket sales plans. In a matter of weeks we will have more exciting news as we unveil our full calendar of world- class events."