Martinsville Speedway's economic impact tops $170 million, study says
Martinsville Speedway officials say a new economic-impact study shows the track generates $174 million for the Virginia economy.
The study, done by the Washington Economics Group, analyzed operating and other expenditures by the track, as well as expenditures by those attending races at Martinsville.
Martinsville Speedway hosts two NASCAR Sprint Cup races a year, along with several other racing events.
“The ongoing operations of Martinsville Speedway generate significant quantifiable economic impacts in the areas of employment, worker income, output and public revenues,” Washington Economics Group associate economist Chuck Yaros said in a news release.
The study revealed:
- 2,824 permanent jobs for Virginia residents result directly from the operations of the track.
- Track operations and visitor expenditures result in more than $68.2 million of worker income each year.
- The ongoing operations of Martinsville Speedway generate more than $30 million of total fiscal revenues each year.
Martinsville Speedway, founded in 1947 by the late H. Clay Earles, is owned by International Speedway Corp.
