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
Colin Edwards
 
Colin Edwards to Lap Indy on Yamaha 60th Anniversary YZR-M1
Fans attending the Red Bull Indianapolis GP will get a special treat on Sunday morning, August 9. Two-time Superbike World Champion Colin Edwards will lap the 16-turn, 2.591-mile Indianapolis Motor Speedway road course aboard a special Yamaha YZR-M1 featuring yellow-and-black, 60th Anniversary livery.
Read More
Aaron Colton
 
Wide Range of Activities on Tap for Red Bull Indianapolis GP Weekend
From high-flying Red Bull skydivers to a bustling marketplace to the fastest two-wheeled athletes in the world, the eighth Red Bull Indianapolis GP on Aug. 7-9 is shaping up to be the best yet.
Read More
Vendor Marketplace Presented by Westfield Powersports
 
Vendor Marketplace presented by Westfield Powersports Returns to Red Bull Indianapolis GP
Indiana-based Westfield Powersports is returning for a second year with its popular Vendor Marketplace during the eighth Red Bull Indianapolis GP at IMS, Aug. 7-9.
Read More
Sherwin-Williams
 
Sherwin-Williams Joins IMS, INDYCAR as Official Partner in Multi-Year Agreement
Sherwin-Williams, an industry leader in paint and coatings, will serve as the Official Paint and Finishing Partner of the Indianapolis Motor Speedway, INDYCAR, the Verizon IndyCar Series, Indianapolis 500 Mile Race, Angie’s List Grand Prix of Indianapolis and the NASCAR Sprint Cup Series Crown Royal 400 at the Brickyard as part of a multi-year partnership agreement.
Read More
MotoAmerica
 
MotoAmerica Coming to IMS for Red Bull Indianapolis GP Weekend
MotoAmerica, the premier U.S.-based motorcycle road racing series, will race at the Indianapolis Motor Speedway as part of Red Bull Indianapolis GP weekend, Aug. 7-9.
Read More
Items 1 - 5 of 508
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 @MotoGP: #MotoGP @stefanbradl signing with the new team for rest of the season ahead of the #IndyGP: http://t.co/MrDMz6Saz3 http://t.co/…
about 52 minutes ago