OpenWheelWorld.net Home

IMS Receives Legislative Approval Of Motorsports Initiative

Motorsports businesses across Indiana to benefit from investment

INDIANAPOLIS, Saturday, April 27, 2013 - The Indiana General Assembly approved a bill as the clocked approached midnight Friday, April 26 that will strengthen the state's position as a global leader in the motorsports industry and create benefits for economic development in tourism, hospitality and motorsports, including upgrades and improvements at the Indianapolis Motor Speedway.

House Bill 1544 passed the House and Senate is on its way to the desk of Gov. Mike Pence. The legislation creates an Indiana Motorsports Investment District that will capture growth in sales and income taxes at the commercial property that includes IMS for future investment in the Speedway. In addition, the Indiana Economic Development Corporation (IEDC) will oversee a fund for motorsports businesses statewide to apply for loans to assist with economic development projects and facility improvements.

"We appreciate the hard work done by state lawmakers to ensure Indiana remains the worldwide leader in motorsports," said Jeff Belskus, Indianapolis Motor Speedway Corporation president and chief executive officer. "This legislation will allow us to make transformative improvements to our 104-year-old facility over the next several years that will greatly enhance the fan experience."

According to the legislation, IMS will receive a loan from the state for up to $5 million per year for 20 years to complete capital improvement projects. The loan will be repaid through the anticipated increases in income and sales tax collections at IMS and will be guaranteed by IMS' parent company, Hulman & Co. In addition, IMS will contribute $2 million per year, $40 million total, over 20 years toward the improvements. The legislation also creates an Indiana motorsports fund where the state will provide up to an additional $5 million per year to the IEDC for loans to motorsports businesses and tracks interested in making improvements to their facilities.

"The impact of motorsports in Indiana is felt in all 92 counties, and this industry provides 23,000 direct jobs statewide that pay an average wage of nearly $63,000 per year," said Tom Weisenbach, Indiana Motorsports Association executive director. "Our state lawmakers understand the significant economic impact of our industry, and we greatly appreciate their support as we look to grow our state's economy."

Projects that could be implemented by IMS as a result of this legislation will be determined in part through a master facility use plan process that is underway at IMS.

[Souce: Indianapolis Motor Speedway Press Release]

Share |
Geplaatst 04-27-2013, 02:04 pm
Gewijzigd 04-27-2013, 02:08 pm
Geschreven door S. Wittich
Fotografie Michael Pina / OpenWheelWorld.net

Copyright © 2004-2019 OpenWheelWorld.net

  Eťn reactie!

Pinapix, 04-30-2013, 11:07 pm

Hey all you gear heads. Check out this deal for the upcoming indy 500. If you or know of anyone who is still shopping for a ticket, click on the link below and take advantage of this 40% off deal.

https://www.livingsocial.com/deals/682258?ref=personalized-link-box-115755736_share&rpi=115755736 Glimlach Glimlach


Volgende Race

Poll
Wie pakt de pole position voor de Indy 500?
12% Josef Newgarden
12% Will Power
6% Helio Castroneves
18% Scott Dixon
29% Ed Carpenter
6% Alexander Rossi
0% Ryan Hunter-Reay
0% James Hinchcliffe
0% Fernando Alonso
18% Iemand anders


Zoeken

Foto v/d week



RSS Feed


Indianapolis
Woensdag - 24 April
17:00 Test sessie 1 
23:15 Opfrissingstest 
Dinsdag - 14 Mei
17:00 Vrije training 1 
Woensdag - 15 Mei
17:00 Vrije training 2 
Donderdag - 16 Mei
17:00 Vrije training 3 
Vrijdag - 17 Mei
17:00 Vrije training 4 
Zaterdag - 18 Mei
14:00 Vrije training 5 
17:00 Kwalificatie 1 
Zondag - 19 Mei
16:15 Vrije training 6 
18:15 Kwalificatie 2 
21:15 Vrije training 7 
Maandag - 20 Mei
18:00 Vrije training 8 
Vrijdag - 24 Mei
17:00 Warm-up 
Zondag - 26 Mei
18:30 Race 

Kwalificatie 2
1. S. Pagenaud 2:36.527
2. E. Carpenter 2:36.597
3. S. Pigot 2:36.640
4. E. Jones 2:36.763
5. C. Herta 2:37.147
Volledige uitslag

Coureurskampioenschap
1. J. Newgarden 182
2. S. Dixon 176
3. A. Rossi 146
4. S. Pagenaud 138
5. T. Sato 132
Volledige standen

OfficiŽle sites

Bezoek OpenWheelWorld op Facebook Bezoek OpenWheelWorld op Twitter