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
Townsend Bell
 
Drivers Chasing Indy 500 One-Off Rides Work as Hard Off Track as On It
Securing the dollars to land a ride is a huge undertaking that doesn't happen with a meeting and a happy handshake.
Read More
Danica Patrick
 
Danica Joins Ed Carpenter Racing for 102nd Running of the Indianapolis 500
The buzz about Danica Patrick's much-anticipated return to the 102nd Indianapolis 500 presented by PennGrade Motor Oil has shifted into media overdrive with confirmation that she will drive for Ed Carpenter Racing.
Read More
Danica Double
 
Patrick Finalizes Indianapolis 500 Stage of 'Danica Double', Details To Come
Danica Patrick’s arrangement to finish her racing career at the 102nd Indianapolis 500 presented by PennGrade Motor Oil this May is complete, she told IndyCar.com on Sunday.
Read More
Fittipaldi Dale Coyne Racing
 
Fittipaldi to Run 102nd Indy 500 in Split Season Deal with Dale Coyne Racing
Dale Coyne Racing confirmed today that rookie drivers Zachary Claman DeMelo and Pietro Fittipaldi will share the team’s No. 19 Honda in the 2018 Verizon IndyCar Series season, with sponsorship from global payments provider Paysafe.
Read More
INDYCAR Windscreen
 
INDYCAR To Conduct First On-Track Test of Windscreen on Feb. 8
INDYCAR will take the next step in the evolution of its driver safety program by testing a windscreen on an Indy car for the first time on track, Thursday, Feb. 8, at ISM Raceway. The test will be held in conjunction with the Verizon IndyCar Series' preseason open test near Phoenix.
Read More
Items 1 - 5 of 1,568
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 IMS Sales Department at (317) 492-8739 or email at hospitalitysales@brickyard.com.
Latest Tweets
It's Pole day on @CrownRoyal Armed Forces Weekend & we can't wait to see you! Check out details on the day: https://t.co/yKQ6Db3YRK
May 21