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
Alexander Rossi
 
Rossi Earns $2.54 Million for Winning 100th Indianapolis 500
Alexander Rossi earned $2,548,743 from an overall purse of $13,273,253 for his victory on Sunday in the 100th Running of the Indianapolis 500 presented by PennGrade Motor Oil at the Indianapolis Motor Speedway.
Read More
Alexander Rossi
 
Rossi Coasts into History with Stunning Win at 100th Running
Questions started being asked before Alexander Rossi’s empty fuel tank had his car sputtering out of the final corner of the last lap in Sunday’s 100th Running of the Indianapolis 500 presented by PennGrade Motor Oil.
Read More
Alexander Rossi
 
Alexander Rossi Wins the 100th Running of the Indy 500 presented by PennGrade Motor Oil
The rookie won the historic 100th Running of the Indianapolis 500 presented by PennGrade Motor Oil with an improbable run to the finish on a rapidly vanishing fuel load, turning a final lap of 179.784 mph in the No. 98 NAPA Auto Parts/Curb Honda for Andretti Herta Autosport with Curb-Agajanian.
Read More
Lady Gaga
 
Lady Gaga brings High-Voltage Star Power to 100th Running
Global music and celebrity icon Lady Gaga will bring her high-voltage star power to the 100th Running of the Indy 500 presented by PennGrade Motor Oil. To help kick off today’s historic edition of the largest single day sporting event on the planet, she will join Mario Andretti for a high-speed thrill ride known as the “Honda Fastest Seat in Sports.”
Read More
Borg-Warner Trophy
 
So Who is Going to Win the 100th Indy 500? Good Luck Picking Just One
Historical significance demanded everything possible be prepared to present the stage for an epic experience at Sunday’s 100th Running of the Indianapolis 500 presented by PennGrade Motor Oil.
Read More
Items 1 - 5 of 1,184
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
@MrsDef Give the ticket office a call and they can help answer this! 317-492-6700
about 10 hours ago