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Formula 1 Racing Could Be Coming To Weehawken and West New York

WEST NEW YORK, N.J. (CBSNewYork) -- The streets of two New Jersey towns might soon be the stage for one of the world's fastest auto races and many residents are revved up about the idea.

Formula 1 racing is all the rage across the world and it could soon be coming to the streets of Weehawken and West New York in the shadow of Manhattan's skyline.

Mayors of both towns said Wednesday they are in talks with investors.

"First we want to make sure that for every expense we have, that we're reimbursed for," Weehawken Mayor Richard Turner told CBS 2's Christine Sloan.

West New York Mayor Felix Roque said getting Formula 1 would "put us on the map."

"The growth is going to be incredible. It's going to be a big boom, not only for the retail, but also for the hotel industry," Roque said.

While the sport hasn't gained popularity in the United States, it has many viewers like Ray Burgos.

"If it's good for the environment, if it's good for the economy of the town, then I am a 100 percent for it," Burgos said.

However, some residents have questions about its viability in the area.

"It would definitely be interesting to see how they coordinate all the vehicle traffic that we have in this community and parking as it is," West New York resident Luis Gonzalez said.

Bill McIntyre, a California resident and Formula 1 enthusiast, said the federation takes safety seriously because cars can go as fast as 200 mph.

"They have cyclone fencing, stacks of rubber tires everywhere to try and protect spectators," he said.

Last year, discussions to bring the races to Jersey City fell through.

The city councils of both towns would have to approve of any move. Mayors of both towns said they want to make sure safety comes first and that no tax dollars are spent.

Are you in favor of Formula 1 coming to New Jersey?  Share your thoughts in the comments section...

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