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
Matt Kenseth
 
Monday Racing Roundup: Kenseth Maintains JGR Hot Streak at Michigan
The Coors Light polesitter for Sunday's Pure Michigan 400 NASCAR Sprint Cup Series race, Kenseth quickly exhibited his mastery of the high-drag aerodynamic package, leading 146 of 200 laps in winning for the third time this season, the third time at Michigan and the 34th time in his career.
Read More
Victory Podium
 
Marquez Makes it Three Straight at Red Bull Indianapolis GP
Two-time defending MotoGP World Champion Marc Marquez passed Jorge Lorenzo in the closing laps to notch his third consecutive title at the Red Bull Indianapolis GP on Sunday at the Indianapolis Motor Speedway.
Read More
Marc Marquez
 
Marquez Wins 2015 Red Bull Indianapolis GP
The 22-year-old Spaniard won for the third consecutive time in MotoGP and fifth time overall at the Indianapolis Motor Speedway on Sunday, passing Jorge Lorenzo with three laps to go in the 27-lap main event and holding on for the win by .688 of a second in the No. 93 Repsol Honda.
Read More
Ben Spies
 
Ben Spies Q&A: It's One of the Most Important Weekends
Ben Spies is a three time AMA Superbike Champion, former WorldSBK Champion (2009) and a MotoGP™ race winner (Assen 2011) whose career was ended by injury in 2013. Spies chatted to motogp.com ahead of the Red Bull Indianapolis Grand Prix to give us his unique insights into his ‘home’ Grand Prix:
Read More
Marc Marquez
 
Marquez Back On Top in Third Practice for Red Bull Indianapolis GP
The Spaniard put his No. 93 Repsol Honda atop the speed chart for the first time in Saturday morning practice, clocking a lap of 1 minute, 32.392 seconds around the Indianapolis Motor Speedway’s 16-turn, 2.591-mile road course. It was the fastest lap of the weekend.
Read More
Items 1 - 5 of 531
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
.@12WillPower looks to retain @IndyCar title Sunday at Sonoma despite heavy heart #GoProGP - http://t.co/Dz5hoiHZ3m http://t.co/0CfIPyo1CD
about 6 hours ago