Development plans for the Silverstone circuit in Northamptonshire are due to be unveiled.
Motor sport drives plans for redevelopment at Silverstone circuit
Residents can soon comment on a new document from South Northants and Aylesbury Vale district councils in whose areas the circuit is based.
Proposals include a motor sport technology park and education campus, a business park, hotels, restaurants and housing next to Silverstone village.
Plans will go on council websites, in libraries and tourist offices soon.
A welcome centre is planned for the circuit with a museum, an exhibition area and an arena for a range of motoring activities.
The aim would be to create a centre for motor sport technology, a rural employment hub and a tourist destination for those interested in car racing.
Mary Clarke, from South Northants council, said: "Future development must support Silverstone as the home of the British Grand Prix and as a motor sport venue generally.
"We are interested in what people think of these plans and will take all comments into account and make changes to the brief if necessary."
Carole Paternoster, from Aylesbury Vale council, said: "The Formula One British Grand Prix weekend is just one of the many events held at Silverstone each year but its contribution alone to the local economy is estimated at about £40m.
"The loss of this race would also jeopardise the viability of the circuit in the longer term and the many local jobs it supports."
The planning document will be available from Tuesday 16 October on the websites, libraries in Towcester and Brackley, council offices in Towcester and the Tourist Information Centre in Brackley.
There will also be an exhibition of the plans in St Michaels Church Rooms, Little London, Silverstone on Friday 19 and Saturday 20 October.
The consultation lasts until 26 November 2007.