13News reporter Rich Nye talks with Scott Dixon following his win in the Gallagher Grand Prix at the IMS road course.
INDIANAPOLIS — The Greatest Spectacle in Racing also has a great impact on the local economy, according to a recent study.found the iconic fixture generates $1.058 billion impact on the Indiana economy.
The study pulled data from between June 1, 2022 and May 31, 2023. It looked at money being spent at the track and spin-off spending as a result of the track.Month of May 2023 contributed $566.4 million to the economy. Visitors to IMS for other events and activities like the SVRA Invitational and Intercontinental GT Indianapolis 8-Hour, the Brickyard Crossing Golf Course and IMS Museum contributed an additional $375.1 million to the economy. Brickyard Weekend 2022 sustains 1,275 FTE employees, whose total labor income was $46.4 million.
“The Racing Capital of the World is a marquee hub for economic development that directly benefits Central Indiana and the Hoosier State, triggering innovative activity and providing jobs and income for thousands of families,” said IMS President J. Douglas Boles. The study also drew comparisons to other events in central Indiana and major national events.
NOTE: The study was done by the IU Public Policy Institute and released by the Indianapolis Motor Speedway.
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