Kentucky Speedway - Economic impact of racing (Louisville, La Grange: sale, hotels)

[SteviePee2]

All,

Not sure how many of you caught the news about Kentucky Speedway being sold to Bruton Smith (Speedway Motorsports Inc) this week. SMI owns 8 other tracks, including such venerable bull rings as Lowes Motor Speedway and Bristol Motor Speedway. Speculation is rampant in racing circles that this VERY likely means at least one (and possibly two) coveted "Sprint Cup" race dates (formerly the "Winston Cup" series) for Kentucky Speedway.

Before you (non-race fans) begin the jokes about how many teeth NASCAR fans do or do not have I wanted to point out the overall economic impact of such and event. Bristol Motor Speedway, where I have been a season ticket holder for many years hosts two race weekends each year. According to media reports that I have read in their local papers, EACH weekend generates FAR more economic revenue to the surrounding area than the Super Bowl does for it's host city each year...and this is not a once in a decade shot but rather twice a year...EVERY year.

Year ago, when I lived in Minneapolis/St Paul there was a group of investors who wanted to build a large race track in the metro area. Community leaders threw road blocks up at every possible turn in the road and eventually the investors turned elsewhere. Where they turned was Kansas City, which now has a track which hosts one of these coveted NASCAR race weekends. The funny thing about this story is that these same community "Leaders" were tripping over themselves a year later crowing about how they had landed the Super Bowl and all the economic impact it would generate.

My point here is to point out how valuable this type of event can be to the local community...In this case think in terms of (possibly) having the economic equivilant of two more "Derby" weekends. Now THAT is a lot of meals consumed, gas sold, rooms booked and beer drank. Think about that before you blow off the news of the sale of this facility.

Steve Pearson...Soon of La Grange

[jstn]

You are absolutely correct. I currently live in charlotte, home of NASCAR, and the economic impact is huge. You were very accurate in your comparison to Derby week. We are fortunate to be the only city to host back-to-back events. With that comes, thousands, actually hundreds of thousands of visitors to our city. Downtown Charlotte has hosted Speed Street all week, full of foods, festivities and free concerts. We are actually going to see Travis Tritt tomorrow...for free! And before everyone says, well Charlotte is the mecca of motor sports, keep in mind that this has become a very white collar, transplant infested city. While, I myself can find it kind of boring on TV, don't ever underestimate the economic impact it can have on an area. And even more importantly, don't underestimate how AWESOME the event can be live. WOW! Everyone needs to do it once in life....and don't say "ah I've been to other races before", because nothing is like a Nascar event live.

[Crew Chief]

I'm not even a NASCAR fan and I realize what a good thing the sale is! Yep, I truly believe that the economic impact will be wonderful. I also know I'm glad that I-71 was widened at the exit for the Kentucky Speedway! Now, if Danica Patrick would come over to NASCAR...

[bw87a]

i too am not a fan, but am very excited. i'm wondering what this will do for the sparta region though? it's so small. what exactly is going on up that way. i remember driving through last year heading to a reds game and they were just widening the road. what would probably happen if a big race was added in terms of restaurants, housing, and retail? i also heard the prospects of a possible small airport.

[missymomof3]

Originally Posted by SteviePee2

All,

Not sure how many of you caught the news about Kentucky Speedway being sold to Bruton Smith (Speedway Motorsports Inc) this week. SMI owns 8 other tracks, including such venerable bull rings as Lowes Motor Speedway and Bristol Motor Speedway. Speculation is rampant in racing circles that this VERY likely means at least one (and possibly two) coveted "Sprint Cup" race dates (formerly the "Winston Cup" series) for Kentucky Speedway.

Before you (non-race fans) begin the jokes about how many teeth NASCAR fans do or do not have I wanted to point out the overall economic impact of such and event. Bristol Motor Speedway, where I have been a season ticket holder for many years hosts two race weekends each year. According to media reports that I have read in their local papers, EACH weekend generates FAR more economic revenue to the surrounding area than the Super Bowl does for it's host city each year...and this is not a once in a decade shot but rather twice a year...EVERY year.

Year ago, when I lived in Minneapolis/St Paul there was a group of investors who wanted to build a large race track in the metro area. Community leaders threw road blocks up at every possible turn in the road and eventually the investors turned elsewhere. Where they turned was Kansas City, which now has a track which hosts one of these coveted NASCAR race weekends. The funny thing about this story is that these same community "Leaders" were tripping over themselves a year later crowing about how they had landed the Super Bowl and all the economic impact it would generate.

My point here is to point out how valuable this type of event can be to the local community...In this case think in terms of (possibly) having the economic equivilant of two more "Derby" weekends. Now THAT is a lot of meals consumed, gas sold, rooms booked and beer drank. Think about that before you blow off the news of the sale of this facility.

Steve Pearson...Soon of La Grange

Louisville used to have Louisville motor speedway and for some reason it closed. We also have Ohio Valley raceway but it is mainly local drivers I think. This state has tons of potential for that sorta thing, I am glad it happened.

[SteviePee2]

Originally Posted by bw87a

i too am not a fan, but am very excited. i'm wondering what this will do for the sparta region though? it's so small. what exactly is going on up that way. i remember driving through last year heading to a reds game and they were just widening the road. what would probably happen if a big race was added in terms of restaurants, housing, and retail? i also heard the prospects of a possible small airport.

BW,

I did a quick check of hotels in the Sparta area on Friday June 13th (whoa). That is the eve of the Nationwide series race at KMS. Please note that the NWS is the SECOND most popular series in NASCAR and still every room for 20 miles in either direction appeared to be booked. My experience at Bristol Speedway, particularly during the "fall" cup race is that EVERY room within 100 miles of the speedway is booked (we stay in Wytheville VA almost 60 miles away). Go to any Walmart, gas station, diner, restaraunt on race day and the place will be JAMMING with race fans dropping some serious dough. And remember every time that cash register goes "cha-ching" there is money going into the state treasury. It ain't a bad thing.

SteviePee

[censusdata]

There is an awesome race track in Jeffersonville, IN that has figure 8 racing

**GO TEAM 48**

[Brenda88]

I say lets start the process. This will bring jobs, and economic growth to our State. Definitely a good thing.

[Irishtom29]

Off topic but why do so many Nascar fans drive slow vehicles? You'd think someone who watched racing would want to drive fast too, I reckon not.

[missymomof3]

Obviously you haven't lived in a neighborhood with tons of Nascar fans, they love to squeel tires and drag race at night. Well, maybe only in Sylvania...