The United States Grand Prix will be held from 2012 through 2021 in the Texas capital and for the first time will run at a new facility specifically designed for Formula One racing, U.S. promoter Full Throttle Productions LP announced.
"All parties involved have a great amount of trust and confidence in each other and are committed to establishing the Formula 1 United States Grand Prix in Austin, Texas, as a prestigious global event," said Full Throttle Managing Partner Tavo Hellmund.
"For the first time in the history of Formula One in the United States, a world-class facility will be purpose-built to host the event," added Bernie Ecclestone, CEO of the Formula One Group.
Formula One races were held in the United States from 2000 to 2007 in Indianapolis, where a race course was built inside the oval of the Indianapolis Motor Speedway.
Temporary street circuits have also been set up in cities including Las Vegas, Detroit, Dallas, Phoenix and Long Beach, Calif.