News & Multimedia

Commission Approves Initial IMS Facility Upgrade Plans

The Indiana Motorsports Commission approved preliminary plans by Hulman & Company to invest state funds on infrastructure upgrades at the Indianapolis Motor Speedway, targeted at improvements that enhance the quality of motorsport events and the fan experience at the facility.

The commission approved a resolution to adopt the IMS improvement plan, including creation of a new Motorsports Investment District for IMS, a step toward issuing bonds to fund improvements at the facility.

“We’re grateful for the support we’ve received from Hoosiers, the Indiana General Assembly and Governor Mike Pence to assist us with needed capital improvements,” said Jeff Belskus, Hulman & Company president and chief administrative officer. “We have a plan for IMS that assures the best return for taxpayers and enhances our role as an economic engine for the state.”

IMS has an annual economic impact of more than $500 million in Indiana, and the motorsports industry in Indiana supports more than 6,200 Indiana jobs that pay an average wage of $63,000, according to an Indiana University Public Policy Institute report released earlier this year.

The plan submitted to the IMC used these criteria to broadly identify the types of improvements to fund with bond proceeds over the next several years:

Focus on necessary track modifications, including:

  • The addition of an apron in the four turns of the IMS oval to be used in NASCAR events, enhancing competition
  • Repaving and reconfiguration of the IMS road course, a project completed in November 2013
  • Refurbishing of catch fencing

Focus on the fan experience, including:

  • Seating improvements to improve comfort, better grandstand access with more elevators and suite renovations
  • New video screens and Scoring Pylon
  • Modernized restroom facilities
  • Increasing concession choices, expanding fan zones and providing more entertainment
  • Need for improved access, traffic flow and parking

Focus on technology, including:

  • Availability of wireless access throughout the facility
  • State-of-the-art data, video and audio availability

Some components of the plan already have been implemented. Improvements to the IMS road course were pivotal to the creation of the Grand Prix of Indianapolis IndyCar Series race on May 8-10, 2014 and the retention of the Red Bull Indianapolis GP MotoGP World Championship race Aug. 8-10, 2014 – two events with significant economic impact for Indiana.

“We’ll complete our master plan next spring, but the first upgrades, which complement our new Month of May, are already underway,” Belskus said. “We just completed paving the newly modified road course that will host the inaugural Grand Prix of Indianapolis on May 10 and be used by MotoGP competitors in August. Our fans also will see a new Scoring Pylon and new video screens next spring. And that’s just the beginning.”

Additional plans for IMS development and enhancement beyond the funding managed by the Indiana Motorsports Commission also will be included in the master plan to be released in spring 2014.

“We started with ideas for improvements that totaled hundreds of millions of dollars, and we’ve reduced our list to a list of potential projects with total spending of about $140 million,” Belskus said. “Now we have some difficult decisions ahead to pare the list further before we ask the commission for its approval.”

The plan does not include installing lights on the famed, 2.5-mile IMS oval for night races. Economic studies showed this $20-million investment did not provide the best return for taxpayers.

Instead, capital improvements in fan experience and track modifications will make IMS a more attractive venue with higher quality racing events. IMS will continue to put a top priority on investments that grow ticket sales and protect revenue from existing events.

“Improving the quality of racing will grow ticket sales,” Belskus said. “For example, adding an apron to the track would improve the passing opportunities during the Kroger Super Weekend at the Brickyard.”

The apron only will be used for NASCAR racing and will cost less than $1 million. The estimated cost for lights is $20 million.

Speedway officials, working with a planning team led by Michael Browning, of Browning Investments, and including such partners as CSO Architects, Shrewsberry & Associates, Browning Day Mullins Dierdorff and Populous, are working on a master planning process and have identified nearly $140 million in potential capital improvements.

The bond issue authorized by House Enrolled Act 1544 and signed into law earlier this year will generate about $90 million to fund improvements at IMS. The bonds will be repaid through credits equal to incremental state sales and income taxes from the Motorsports Investment District and proceeds from a new admissions tax. IMS also will fund at least $2 million annually toward lease payments and debt service.

A copy of the Indianapolis Motor Speedway Qualified Motorsports Facility Improvement Plan and accompanying exhibits may be found on the IMC website at www.in.gov/imc/2339.htm.


***


2014 ticket information: Ticket information is available for the four events in 2014 at the Indianapolis Motor Speedway – the Grand Prix of Indianapolis, 98th Indianapolis 500, Kroger Super Weekend at the Brickyard and Red Bull Indianapolis GP.

Fans can order tickets at www.ims.com/tickets, by calling 800-822-INDY or 317-492-6700 between 8 a.m.-5 p.m. (ET) Monday through Friday or by visiting the IMS Ticket Office at the IMS Administration Building at the corner of Georgetown Road and 16th Street between 8 a.m.-5 p.m. (ET) Monday through Friday.

Tickets for groups of 20 or more also are available. Contact the IMS Group Sales Department at 866-221-8775 for more information.
 

Show More Show Less
Now Viewing
Commission Approves Initial IMS Facility Upgrade Plans
 
Commission Approves Initial IMS Facility Upgrade Plans
The Indiana Motorsports Commission approved preliminary plans by Hulman & Company to invest state funds on infrastructure upgrades at the Indianapolis Motor Speedway, targeted at improvements that enhance the quality of motorsport events and the fan experience at the facility.
Read More
Related Media
Josef Newgarden
 
Monday Racing Roundup: Newgarden Scores First Win at Barber
Newgarden, driving the No. 67 Hartman Oil CFH Racing Chevrolet, is the fourth different winner in as many races this season. This was the first victory since the merger of Ed Carpenter Racing and Sarah Fisher Hartman Racing and the team's sixth win overall.
Read More
Josef Newgarden
 
Newgarden Victorious for First Time in Alabama
The steely 24-year-old Tennessee native "drove my race," maintaining his line in the No. 67 Hartman Oil CFH Racing Chevrolet and keeping his foot to the floor on the 2.3-mile, 17-turn Barber Motorsports Park road course to claim his first Verizon IndyCar Series victory in his 55th start.
Read More
Conor Daly
 
Daly To Contest Indy 500 in Third SPM Entry
Conor Daly has been seeking -- no, striving for -- such an opportunity since May 2013, when the Noblesville, Ind., native made his Verizon IndyCar Series debut for AJ Foyt Racing in the Indianapolis 500 Mile Race.
Read More
The Rolling Stones
 
Global Live Created; Hits Ground Running with Rolling Stones’ Visit to Indianapolis
Global Entertainment, the content creation arm of Ashley Tabor’s U.K.-founded Global, The Media and Entertainment Group, has announced its newest division – Global Live.
Read More
Juan Pablo Montoya
 
Pruett's Preview: Honda Indy Grand Prix of Alabama
Team Penske’s Juan Montoya not only leads the Verizon IndyCar Series point standings heading into this weekend’s Honda Indy Grand Prix of Alabama, he also leads an interesting group of drivers who have taken over the top three spots in the championship.
Read More
Items 1 - 5 of 919
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
Tickets to see @FLAGAline are still available! Click here for ticket options: http://t.co/SFNSHtqS2i
about 2 hours ago