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
Max Chilton
 
Chilton Moving Closer to Center of Victory Contenders' Radar Screen
Can a driver who has been consistently quick fly under the proverbial radar before the 101st Indianapolis 500 presented by PennGrade Motor Oil this Sunday? Maybe Max Chilton could — until Monday.
Read More
James Davison
 
Davison Heads Straight To Rush Hour after Answering Late Call from Coyne
James Davison was about 350 miles away, taking part in the SVRA Spring Vintage Festival Weekend at Road America in Elkhart Lake, Wisconsin, while also watching a live online stream of qualifying Saturday for the 101st Indianapolis 500 presented by PennGrade Motor Oil. Then he saw Sebastien Bourdais and the No. 18 GEICO Dale Coyne Racing Honda slam into the Turn 2 wall.
Read More
Brickyard 400
 
Brickyard 400 Moves to September in 2018 as Final Race of Regular Season
The Brickyard 400 will enter a new era of excitement in 2018, as the annual Monster Energy NASCAR Cup Series race at the Indianapolis Motor Speedway will move to Sunday, Sept. 9. The 400 will serve as the final race of the regular season, determine the regular season champion and set the field for the NASCAR Playoffs, which begin the following weekend at Las Vegas Motor Speedway.
Read More
Angela Brown
 
Renowned Soprano, Hoosier Native Angela Brown To Sing 'God Bless America' at '500'
World-renowned opera singer and Indianapolis native Angela Brown will sing “God Bless America” during pre-race ceremonies for the 101st Running of the Indianapolis 500 presented by PennGrade Motor Oil, a beloved patriotic tradition of “The Greatest Spectacle in Racing.”
Read More
Nicky Hayden
 
Hayden Remembered as Fan Favorite, Talented World Champion at IMS
2006 MotoGP World Champion Nicky Hayden never won a race at the Indianapolis Motor Speedway, but “The Kentucky Kid” still was one of the most popular, talented and respected racers on two or four wheels to compete at the Racing Capital of the World in the last decade.
Read More
Items 1 - 5 of 2,598
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