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[IEDC] Motorsports Champions Join Governor & Legislators to Celebrate Achievements
Start Date: 3/5/2013Start Time: 12:00 AM
End Date: 3/5/2013
Entry Description

STATEHOUSE (March 5, 2013) – Motorsports executives joined Governor Mike Pence and lawmakers today for Indiana Motorsports Day to celebrate the achievements of Indiana’s racing champions.

Representatives of four Indiana-based racing series champions and executives from the Indianapolis Motor Speedway, IZOD IndyCar Series, GRAND-AM Rolex Sports and the National Hot Rod Association gathered at the Statehouse for the celebration. In 2012, all major automotive racing championships (with the exception of the NASCAR Sprint Cup Series) were won by racing teams headquartered in Indiana.

“We are proud to honor Indiana race teams for their achievements,” said Governor Mike Pence. “Winning performances on the track are not only a Hoosier tradition, but an industry and culture that help drive the Hoosier economic engine. Racing companies continue to find that Indiana’s pro-growth policies and central location perform for their business, making our state the ideal home to start their engines."

Indiana is one of only four states to annually host races for each of America’s four best known sanctioning organizations — NASCAR, IndyCar, GRAND-AM and NHRA — as it welcomes race fans and teams for the Indy 500, Brickyard 400 and U.S. Nationals. With more race tracks per capita than any other state, the motorsports industry pumps more than $3 billion through Indiana annually.

Indiana’s motorsports industry also contributes more than 23,000 jobs for the state, paying an average annual wage of nearly $63,000, according to a recent Purdue University-led study, titled “Race to the Future: the Statewide Impact of Motorsports in Indiana.” The industry is also indirectly responsible for 421,000 Hoosier jobs.

“Chip Ganassi Racing’s TELMEX GRAND-AM Rolex Team, Target IndyCar Team and Novo Nordisk IndyCar Team represent what’s right about the Indiana economy,” said Mike Hull, managing director for Chip Ganassi Racing Teams (CGR). “Indianapolis and Indiana are a synonymous global brand due to the long-standing motorsports posture of every form of our states deep motorsports resource. CGR’s business operation expansion continues to parallel the positive growth opportunity that Indiana provides.”

Vance and Hines Motorsports, Dallara, A-FAB and Hoosier Racing Tire Corp. are just a few of the many racing companies that have made plans to expand their operations in the Hoosier State. Since 2005, motorsports companies have projected to create 870 new jobs and invest more than $99 million to their Indiana operations.

“The Indiana Motorsports Caucus is happy to honor the national champions at the Statehouse,” said Rep. Bill Davis, co-chair of the Indiana Motorsports Caucus. “They represent a source of pride for Indiana since motorsports have become a part of our state’s culture. I know all the legislators were looking forward to the day.”

Honored at the event were: IndyCar Champion, Andretti Autosport; Indianapolis 500 and GRAND-AM Rolex Sports Car Champion, Target Chip Ganassi Racing; NHRA Drag Racing Top Fuel Dragster and NHRA Drag Racing Funny Car Champion, Schumacher Racing; and NHRA Drag Racing Motorcycle Champion, Vance & Hines.

Photo: Governor Mike Pence meets with Indiana-based racing series champions and motorsports executives.

About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

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Media Contact:
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
Photo: Governor Mike Pence meets with Indiana-based racing series champions
Entry Type:
Press Release
Entry Category:
  • Announcements
  • Celebrations
  • IN.gov Category:
  • About Indiana
  • Business & Employment
  • Agency Name
    Economic Development Corporation, Indiana

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