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
Andrea Dovizioso
 
2015 FIM MotoGP World Championship Kicks Off This Weekend in Qatar
The MotoGP paddock will arrive at the Losail International Circuit this week for the start of the 2015 season. After months of waiting the first round is upon us and what a season it promises to be, as already during preseason testing a few surprises have been thrown up with some big stories making the headlines.
Read More
IMS Golf Course
 
Golfers Can 'Pay The Temp' as Brickyard Crossing Opens March 20
The highly acclaimed Brickyard Crossing Golf Course will open for the 2015 season at 10 a.m. on Friday, March 20, and players will receive a fantastic greens fee value through Tuesday, March 31, with the “Pay the Temperature” promotion.
Read More
Indianapolis 500
 
Join Us Championship Weekend at IMS
With the field set and excitement rising for the NCAA Men’s Basketball Tournament, it’s not too early to plan your visit to Indianapolis for the first weekend in April.
Read More
Marc Marquez
 
Marquez Finishes Ahead of Riders After Second Sepang Test
Repsol Honda will be delighted by the way Marquez, whose first day was ruined by a brake problem, responded to dominate the last two days. For the Spaniard, his main focus was on evaluating different chassis types, and tweaking the set ups on each to find the one he prefers.
Read More
Valentino Rossi
 
Rossi Eager To Challenge Marquez's MotoGP Supremacy in 2015
The last two MotoGP seasons have ended with two major questions looming over the sport: Who could provide serious competition in the future for reigning World Champion Marc Marquez, and could the individual who provides the strongest challenge to him this season be the greatest rider the sport has ever known?
Read More
Items 1 - 5 of 482
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
Donald Davidson’s class @IUPUI on #Indy500 history is a must for local diehard fans. More information on The Blog: http://t.co/WcxVkGlvIp
about 24 hours ago