INDIANAPOLIS — The Indianapolis Motor Speedway has a significant impact on Indiana's economy, according to a recent study by the Indiana University Public Policy Institute.
The economic impact study of the IMS found the unique sporting facility generates $1 billion in annual revenue.
The study took data from June 1, 2022, through May 31, 2023. Of the total, more than half — $566.4 million — was generated in the month of May.
According to the study, Brickyard Weekend 2022 generated $117.2 million, while visitors for other activities, such as the Brickyard Crossing Golf Course and IMS Museum, generated $375.1 million to the economy.
IMS also has 8,440 full-time employees, totaling an estimated $360 million in labor income, the study found.
“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,” IMS President J. Douglas Boles said. “The impact and value of IMS and its contributions to Indiana’s economy are invaluable and fuel us to further prioritize our role as a key driver of progress and impact moving forward.”
The last economic study was done in 2013 and found at that time, IMS generated $510 million for the local economy.