News & Multimedia

IMS Events Add $510 Million Annually Into Indiana Economy

Events and operations at the Indianapolis Motor Speedway and associated motorsports businesses generate more than $510 million annually to the Indiana economy, according to a study by the Indiana University Public Policy Institute.

“This study shows how the Indianapolis Motor Speedway and its associated industries form a powerful engine that helps to drive the Indiana economy,” said Mark D. Miles, chief executive officer of Hulman & Company, the parent company of the Indianapolis Motor Speedway and INDYCAR. “The Super Bowl brought a tremendous economic impact to Indianapolis and Indiana in 2012, and this state is very fortunate that IMS, its events and associated industries deliver an even greater economic contribution every single year.”

The study addressed the direct and indirect economic contributions made by IMS through its operations, spending by out-of-state visitors to the Indianapolis 500, Kroger Super Weekend at the Brickyard and Red Bull Indianapolis GP annual events, and the presence of nearly all INDYCAR race teams and the Dallara facility in the Indianapolis area, which are attracted to Indiana due to the presence of the Speedway.

Notable statistics from the extensive study, which used data from 2010 through 2012:

  • An annual infusion of $510 million to the Indiana economy
  • Approximately 6,200 direct and indirect jobs in Indiana created by IMS events and operations, Indiana-based INDYCAR teams and the Dallara facility
  • More than $235 million in annual employee compensation at IMS and associated motorsports businesses
  • Jobs attributable to IMS comprise nearly 20 percent of all employment at racing industries within Indiana
  • Direct spending by IMS and associated motorsports businesses in 65 of 92 Indiana counties
  • Approximately 200,000 out-of-state visitors spent more than $145 million combined at the three IMS events in 2012. Visitors to IMS came from all 50 states and more than 50 countries.

“The Indianapolis Motor Speedway continues to play a major economic role throughout Indiana, providing thousands of good jobs for Hoosiers,” said Jeff Belskus, president and chief executive officer of the Indianapolis Motor Speedway. “The success of IMS and the growth of the motorsports business go hand-in-hand and combine to provide a potent economic force in our state.”

Delivering unbiased research and data-driven, expert analysis, the IU Public Policy Institute is a collaborative research arm within the Indiana University School of Public and Environmental Affairs. The Institute also supports the Indiana Advisory Commission on Intergovernmental Relations (IACIR).

“While racing is a sport that generates an annual Super Bowl of visitors, the analysis proves that it is also a high-tech, advanced manufacturing industry including not just drivers, but engineers, parts manufacturers and a wide range of firms that support the local economy,” said John Krauss, director, IU Public Policy Institute.

Show More Show Less
Now Viewing
Tickets For 2013 IMS Events on Sale
 
IMS Events Add $510 Million Annually Into Indiana Economy
Read More
Related Media
Hulman Terrace Club
 
On-Sale Now, Hulman Terrace Club Offers Premium Seating for IMS Events
The Hulman Terrace Club, located on the outside of the front straightaway of the famed 2.5-mile oval, features some of the best views of the track plus ADA-accessible seating for fans seeking a club option. All tickets to the Hulman Terrace Club were sold in its inaugural season in 2016. Space is limited, so fans interested in tickets should act now.
Read More
NASCAR Format
 
NASCAR Enhances On-Track Product with New Stage-Based Race Format
NASCAR, in collaboration with industry stakeholders, announced an enhanced competition format that will be implemented in all three of its national series – the Monster Energy NASCAR Cup Series, the NASCAR XFINITY Series and the NASCAR Camping World Truck Series.
Read More
Jimmie Johnson
 
IMS Statement on New NASCAR Format
Indianapolis Motor Speedway President Doug Boles release the following statement regarding format changes announced by Monster Energy NASCAR Cup Series officials this evening:
Read More
Carl Edwards
 
IMS Statement on Retirement of Carl Edwards
Edwards first ran the Brickyard 400 in 2005. He placed in the top ten three times, finishing second in 2008. Over the course of his NASCAR career he compiled 28 race victories, 22 poles and 124 top five finishes.
Read More
Alexander Rossi
 
IMS President Doug Boles Shares Favorite Moments of 2016
As we quickly close in on 2017, I thought it might be appropriate to recall 16 of my favorite moments from this historic year! These are clearly not all of the memories I will take away from this awesome year and they are not in any particular order.
Read More
Items 1 - 5 of 717
Reserve one of our hospitality suites for your next event!
To start planning your event at the Indianapolis Motor Speedway please fill out our Information Request Form or contact Laura Wyamn at (317) 492-8557 or email at lwyman@brickyard.com.
Latest Tweets
RT @juncosracing: #JuncosRacing Announces Entry in 101st Running of the Indianapolis 500 Read: https://t.co/zmHsUhV3j5 #PassionMeetsSpeed #…
about 2 hours ago