The St. Petersburg (Fla.) City Council voted to extend Green Savoree Racing Promotions' license to organize the annual race event that features the Verizon IndyCar Series through 2020.

Under the amendment, the dates for the Firestone Grand Prix of St. Petersburg have also been confirmed through 2018. The March 11-13 race weekend will be the 2016 season opener for the Verizon IndyCar Series and all three rungs of the Mazda Road to Indy development ladder series. The event will be held March 9-12 in 2017 and March 8-11 in 2018.

“We would like to express our sincere thanks to Mayor Rick Kriseman, members of City Council and all city staff for their support and approval of this extension,” Green Savoree Racing Promotions chairman and CEO Kim Green said. “The City of St. Petersburg has a special place in the history of racing, and we look forward to running the Firestone Grand Prix of St. Petersburg here for years to come.”

Tickets to the 2016 Firestone Grand Prix of St. Petersburg are available at gpstpete.com.

In its 12th year, the Firestone Grand Prix of St. Petersburg is contested on a 1.8-mile, 14-turn circuit that includes a combination of streets and a runway of Albert Whitted Airport – all overlooking Tampa Bay.

The city's managing director of development said the race had an economic impact of $48.3 million and generates an estimated $5 million in marketing value to the city. The March 13 race will be telecast live on ABC (12;30 p.m. ET).

The 2005 event was the first non-oval race in the history of the Verizon IndyCar Series.

Will Power started defense of his championship by setting the track qualifying record in earning the Verizon P1 Award for the pole in the debut of aerodynamic bodywork packages supplied by Chevrolet and Honda. Team Penske teammate Juan Pablo Montoya won the race, outdueling Power by .9930 of a second.