An updated analysis of the economic and fiscal contributions of the Indianapolis Motor Speedway

Abstract

The Indianapolis Motor Speedway (IMS) is an internationally recognized motorsports icon. Established in 1909, it is the epicenter of Indiana’s motorsports cluster and the world’s largest stadium in terms of its overall capacity. IMS can house more than 350,000 fans, including a seating capacity of 235,000. The race-related events IMS hosts throughout the year have a sizable impact on the Indiana economy. To determine the economic value of its activities, IMS engaged the Indiana University Public Policy Institute (PPI) to conduct an economic impact analysis. The resulting study used operations expenditures and visitor spending data for events from June 2022 to May 2023. While much of the economic impact and contribution generated likely happened within the Indianapolis metropolitan area, the study looks at IMS' impact across the entire state. IMS provided PPI with the data used for the analysis, including IMS, INDYCAR, and NASCAR expenditure data and the results of surveys of ticketholder spending patterns. Operations spending included expenditures on facility maintenance, the Brickyard Crossing golf course, the IMS Museum, and IMS management. The research team derived spin-off spending from IMS expenditures, INDYCAR and NASCAR team spending, and in-state and out-of-state visitor spending.