A Red Bull car is driven round the track last week during the unveiling of the Buddh International Circuit, the venue for India's first Formula One Grand Prix in Noida, 38 kilometers from New Delhi.

An official with direct knowledge of the plan said Formula One is coming to New Jersey in June 2013 with a race on the Hudson River shoreline just minutes from New York City.

The person said the Grand Prix event will take place in Weehawken and West New York, with the Manhattan skyline as a backdrop.

The person spoke on the condition of anonymity because the race has yet to be announced.

The US hasn't hosted a Formula One race since 2007 in Indianapolis, an event which was won by Lewis Hamilton.

A race is scheduled for Austin, Texas, in 2012.

The race could mean a big boost to the economy in North Jersey, which typically benefits from national and international events at the Meadowlands Sports Complex, where the NFL's New York Giants and Jets play.

But although the Super Bowl is coming to MetLife Stadium there in 2014, the complex has sagged a bit economically with the loss of the NHL's New Jersey Devils and NBA's New Jersey Nets to the nearby Prudential Center in Newark.

The tentative name for the race is the Formula 1 Grand Prix of America.

IndyCar race

The area is not foreign to motorsports, though it has been awhile since it hosted one.

The Meadowlands Grand Prix was a CART IndyCar race held in East Rutherford from 1984-1991.

It was the first major race in the New York City metropolitan area since 1937, and the course twisted and turned around the original Giants Stadium.

The Formula One race would likely stroll through River Road, which runs alongside the Hudson River, allowing for clear views of the New York City skyline.

It would also offer fans and tourists easy accessibility to New York City lodging, restaurants and nightlife, though they could also stay in Hudson County, as well.