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
Crown Royal Your Hero's Name Here 400 at the Brickyard
 
Vote Now To Rename The Brickyard 400 After a Deserving Hero
Beginning this week, adult consumers can go to CrownRoyalHeroes.com to vote for the hero they think is most deserving of naming rights to the race. Voting runs through June 7 and the grand prize winner will be announced early that month. See below for their names and bios or click here to read.
Read More
Indianapolis 500
 
USA Today's 10Best Readers Choice Voting Open for 'Best Motorsports Race,' 'Best NASCAR Track'
Voting is now open for USA Today’s 10Best Readers Choice in the “Best Motorsports Race” and “Best NASCAR Track,” with IMS featured in each.
Read More
Juan Pablo Montoya
 
Monday Racing Roundup: Montoya Wins Thrilling Indianapolis 500
Montoya, who won the race 15 years earlier in his first start, held off reigning Verizon IndyCar Series champion and teammate Will Power by .1046 of a second -- the fourth-closest finish in race history -- in a thrilling battle over the final 15 laps that also included pole sitter and 2008 race winner Scott Dixon. Five of the 37 lead changes occurred in those 15 laps following a restart, with Montoya overtaking Dixon in Turn 1 for second place and Power in Turn 4 to lead Lap 197 by .0420 of a second.
Read More
Will Power
 
Monday Racing Roundup: Power Takes First Step Towards May Sweep at IMS
After earning the Verizon P1 Award with a track-record qualifying lap for the Angie's List Grand Prix of Indianapolis, Will Power was asked about the prospects of a Month of May sweep at Indianapolis Motor Speedway
Read More
Dale Earnhardt Jr.
 
Monday racing roundup: Earnhardt Jr. Scores Emotional Win at Talladega
Earnhardt, his team and Junior Nation could celebrate his 0.159-second victory over Hendrick Motorsports teammate Jimmie Johnson in the NASCAR Sprint Cup Series GEICO 500 Sunday afternoon, his sixth Sprint Cup win here. It all but assures Earnhardt a spot in the Chase for the NASCAR Sprint Cup Championship for a fifth consecutive year.
Read More
Items 1 - 5 of 608
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
20 years ago today, two drivers passed the pace car at the #Indy500. One actually won. A look back at 1995: http://t.co/lg7NMrFFi7
about 15 hours ago