Looking for a new way to describe this weekend's Grand Prix of St. Petersburg? Try stimulative.

Mayor Rick Baker invoked the in-vogue political buzzword in describing the race this afternoon.

"It has a great stimulating effect," said Baker, who last year extended the race's contract with the city through 2013.

Baker pointed out that local construction workers build the race course each year. There also is an uptick in hotel reservations and overall business downtown. As part of its agreement with race promoters, the city agrees to provide up to $150,000 in in-kind services (mainly fire and police man hours).

By comparison, the city of Toronto's agreement to land an IndyCar race requires the Canadian government to contribute $1 million to $2 million Canadian ($800,000 to $1.6 million U.S.), according to published reports.

"Compared to a lot of the things we do, it's a very good investment," Baker said.

Aaron Sharockman, Times staff writer

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