DAYTONA BEACH, Fla. – Daytona International Speedway, host of NASCAR’s biggest, richest and most prestigious event – The Daytona 500 – has an annual overall economic impact of more than $1 billion.

According to the report conducted by The Washington Economics Group, Inc. and Chuck Yaros, Daytona International Speedway and Daytona 500 Experience boast a total economic impact of $1.9 billion annually. The economic impact study was conducted over a several month period utilizing the IMPLAN model, which analyzes both the direct and indirect benefits of an economic producer in a region and statewide.

Daytona International Speedway’s annual calendar features high profile sanctioning bodies such as NASCAR, Grand American, American Motorcycle Association (AMA) and World Karting Association (WKA). From stock cars’ most prestigious race – the Daytona 500 – to sports cars’ most prestigious road race – the Rolex 24 At Daytona, the Speedway is active with activity more than 300 days each year.

 “For many years, Daytona International Speedway has been an economic catalyst in the state of Florida,” said Speedway President Robin Braig. “Through the millions of fans that visit our facility throughout the year, we are proud to fulfill our commitment to give back to our neighbors in Daytona Beach, Volusia County and the state of Florida on an annual basis.” 

The WEG study also found:

·                    DIS and Daytona 500 Experience operations create nearly 32,000 jobs.

·                    DIS and Daytona 500 Experience provide more than $856 million dollars in labor income annually.

·                    DIS and Daytona 500 Experience generate $155.4 million dollars annually in tax revenue to state and local governments.

The report also noted that International Speedway Corporation, the parent company of Daytona International Speedway, announced that its operations generate $2.3 billion in economic benefit each year.

“The results of this study are very compelling and speak to the significant contribution our operations make to the annual economy of the state and our local communities,” added ISC President Lesa France Kennedy. “Our events attract hundreds of thousands of visitors to Florida each year. These visitors stay locally and spend money at area attractions and other businesses. We could not continue to succeed without the support of our

local residents and officials, and are proud that our operations are able to give back to these communities in such a strong way.”

 

Daytona Beach Mayor Glenn Ritchey was also present at the announcement presenting a proclamation on behalf of the City Commission and the City of Daytona Beach honoring the 50^th Running of the Daytona 500. He also commented on the Impact Report.

 

“As the Mayor of Daytona Beach, I am proud of the role our city has played as the birthplace and home of ISC and NASCAR and the World Center of Racing – Daytona International Speedway,” said Ritchey. “I’ve always thought that the benefits they generate for our community were immeasurable.  But, it turns out they are not.  The 2.3 billion economic impact of our local motorsports industry has a huge positive effect on our city”.

 

Volusia County Chairman Frank Bruno also read a proclamation on behalf of the County Council of Volusia County proclaiming Feb. 17, 2008, as “DAYTONA 500 50th ANNIVERSARY DAY.”

 

“This report highlights something we’ve known for a long time – that ISC, NASCAR, and Daytona International Speedway are an incredible economic engine for Volusia County and the state of Florida.  They truly drive our economy in a way that benefits all our residents and businesses.”

 

Former NASCAR Craftsman Truck Series Champion Mike Skinner also took part in the event noting, “Angie and I have been living here in Daytona for a long time and have seen the track and the surrounding areas grow tremendously. Having a community partner like Daytona International Speedway is not only great for race fans, but great for everyone in Central Florida.”