The British Moto GP looks set to be held at the Circuit of Wales racetrack in Ebbw Vale for the next decade.

The £315m Rassau-based racetrack, which is yet to be built, will host the event from 2016 but its developers will have the right to promote it and choose a location for next year’s Grand Prix.

The deal between Dorna, the championship’s commercial rights holders, and the Circuit of Wales is a five-year contract with the option for a further five year extension.

Business Argus has been asking the Gwent business community if they think this is good news for the area...

Gareth Jones, director, Audere Medical Services Limited, Usk

It’s a good idea and I’m sure events there will be well attended but will there be enough events to make it a viable business? How much benefit will it provide for the local community?

John Newell, director, Kingston Newell Estate Agents, Newport

I would certainly consider using the facility for corporate hospitality on race days and might be interested in track days. Would it be more worthwhile to invest in the existing facility at Pembrey rather than start from scratch?

Luke Welsh, head of employment law at Howells Solicitors, Newport

The racetrack will certainly raise the profile of the area and attract thousands of visitors on race days. Can lessons be learned from the Ryder Cup and World Cup and plans put in place to maximise the marketing opportunities? I love motor sport and am personally excited at the prospect of the MotoGP coming to Wales. If it goes ahead let’s make sure it here’s for the long term and sustainable.

Vince Taylor, director, Kinetic Workplace Design, Usk

The plans for the racetrack look great and it has attracted a lot of coverage in the media. Being a biker myself, I will be going to events there but I’m not convinced it is the best use of financial resources for an economically deprived area. The area around Silverstone has become a motor sport hot spot but this has gradually happened over decades and its central location has helped. What will the facility in Ebbw Vale be used for when there aren’t events taking place?

Guy Jones, NatWest's director of commercial banking for Cardiff and East Wales

I used to race motorbikes around Welsh forests so I do have some affinity to the sport. If this is genuinely to be primarily privately funded then some support from Welsh Government is wholly appropriate. The economic boost to Ebbw Vale both during construction and thereafter would be considerable, as would employment opportunities. The Circuit of Wales would appear to need significant trade to meet its overheads - let's hope it can achieve that. A glorious location in the summer. Not so sure about January...

Sarah Telford, QualitySolicitors Rubin Lewis O'Brien, Cwmbran

A racing track to host events like the MotoGP will inevitably turn the spotlight onto Wales and create both a wonderful visitor attraction and, more importantly, a great deal of jobs in an area which has historically been quite deprived. This can only be a good thing overall for the Welsh economy. As for me, whilst not a huge racing fan, I’d certainly be interested in a visit!

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