From the Indianapolis Business Journal:
...
There are times, of course, when the cost/benefit analysis is difficult to assess. It has not been difficult in the case of the legislative proposal to advance the Speedway and the automotive industry.
Analysts for Indiana University’s Public Policy Institute recently quantified the direct and indirect impact of the Speedway and associated industries. Briefly put, IMS means $510 million a year and 6,200 jobs for Indiana’s economy.
A relatively small part of this total represents ticket purchases and spending by Indiana residents who go to the races. Most of it comes from sources like the out-of-state visitors, the value of Indiana-based racing teams, and the manufacturing operations attracted to Indiana by the motorsports cluster.
From the period of Tony George’s stewardship onward, we have come to understand that the IMS is much greater than a week in May. The institute’s new analysis makes it plain just how much greater it really is.
The pending legislation creates a special taxing district that would commit a small portion of the public revenue being generated toward the goal of building an even greater enterprise. The IMS would likewise have skin in the game.
I suggest that the discussion of this proposal is an example of public policy being well conducted. It is the exact opposite of the old line about “not wanting to watch laws or sausage being made.”
And the answer about whether to move forward seems pretty plain.
http://www.ibj.com/speedway-promotion-is-a-smart-move/PARAMS/article/40417
