The WTC announced today that they will be adding a U.S. Collegiate Championship to its 70.3 lineup. The championship will coincide with October’s Ironman 70.3 Austin event. The event will feature both collegiate individuals and teams.

See the complete press release below:

Today, World Triathlon Corporation (WTC), owner of the global Ironman and 70.3 Event Series, announces the first-ever Ironman 70.3 U.S. Collegiate Championship, an event that will coincide with Ironman 70.3 Austin. This unique event will feature the very best collegiate teams and individuals in the U.S. Collegiate athletes must be full-time students (undergrad or graduate) within the 2010-2011 academic year to be eligible for the championship.

“This is exciting news for Austin on a number of levels,” says Matthew Payne, executive director of the Austin Sports Commission. “First, it will bring an additional 250 athletes to our annual Ironman 70.3 event and help boost the economic spending to nearly $3 million into the Austin economy. Second, it increases awareness of Austin as a triathlon destination, and triathlons are an event segment we’ve been working to expand. Finally, it serves as another example of Austin’s success in the youth and student sports markets. Events like this are part of the reason Austin is able to maintain relative stability in a shaky economic climate.”

Ironman 70.3 Austin, formerly Ironman 70.3 Longhorn, will take place on Oct. 17, 2010. Known as the “The Live Music Capital of the World,” Austin is home to the University of Texas and its 50,000 students. Athletes will complete a one-loop, freshwater swim in Decker Lake, followed by a scenic one-loop bike course through rolling Texas farmland, sprawling ranches, cedar-covered vistas and sunflower fields. Participants finish with a two-loop run course through Walter E. Long Park and along the shores of Decker Lake. Athletes will compete for a total of 50 slots to the 2011 Foster Grant Ironman World Championship 70.3, Presented by Ford.

“Austin is an obvious fit for the Collegiate Championship,” said Keith Jordan, Ironman 70.3 Austin race director. “It is a great city that is easy to get to with a vibe unlike anywhere else. Having the University of Texas in our backyard will surely enhance the experience for all the athletes.”