Tavo Hellmund, the promoter of the United States Grand Prix, has welcomed the news that a second American F1 race will be held in New Jersey from 2013 onwards.

The New Jersey race will be held on a new 3.2-mile street circuit around Weehawken and West New York and will have the Manhattan skyline as a backdrop.

In a statement following the announcement, Hellmund welcomed the news of a second F1 event in the USA and said he was confident that the two races could co-exist on the calendar.

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"I want to extend my congratulations to Leo [Hindery] and his team, as I know how much work they have put into making this happen," Hellmund said, making reference to one of the men behind the New Jersey plans. "When I walked the site a few years ago, the site's potential was obvious. I am excited for the East Coast and feel Tuesday's announcement is yet another acknowledgement of the viability, fan interest, economic benefits and prestige an F1 Grand Prix event brings to a region.

"New Jersey and Texas, nearly 2,000 miles apart, offer unique and very different fan experiences destined to not only raise the visibility of the sport in this country, but also increase the global attraction and US support of these world-class events. These two regions are going to be terrific backdrops for the world's most advanced form of racing."

However, Hindery - a former sportscar racer - was less enthusiastic about the ongoing work in Austin, Texas at the new Circuit of the Amercias venue, which has come underfire somewhat given it is being partly funded by public money - unlike the New Jersey plans.

Speaking to the New York Times, Hindery said the costs involved in the New Jersey plans were 'pennies' compared to Austin and questioned if the rival venue would be ready in time.

"There's not a yard of dirt being moved," he said. "We're pennies on the dollar compared to Austin.

"I wouldn't bet on Austin making it."