Study: Darlington Raceway pumps $54 million into local economy
Darlington Raceway generates $54 million annually for the Pee Dee region and state of South Carolina and has played a role in the creation of 874 jobs in the region, according to a new study.
The economic impact study by the Washington Economics Group Inc. was conducted over several months and utilized a model that quantifies the direct and indirect benefits of economic activity.
In addition to identifying the total economic impact, the study found that:
NASCAR events and other activities throughout the year at Darlington Raceway result in $19 million of labor income for workers throughout South Carolina annually.
Each year these activities produce over $7.9 million for federal, state and local governments. Of this total, $3.4 million flow directly to state and local governments.
Year-round track operations contribute $30 million annually toward South Carolina’s gross state product. Referred to by economists as “value added,” this is the portion of business revenues that provides compensation to workers and capital income. Value added is also the principle source of income to households and a key measure of the track’s ongoing contributions to the state’s economy.
“We take a great deal of pride in being good corporate and community citizens, and the results of this study demonstrate our significant contributions to the Pee Dee region and state of South Carolina,” said Darlington Raceway President Chris Browning. “During the 60-year history of Darlington Raceway, ‘The Track Too Tough to Tame’ has become a destination for motorsports fans from across the world. We are thrilled to have such a significant, positive impact on the economy of South Carolina and expect to continue generating economic benefits to the state for years to come.”
South Carolina Gov. Mark Sanford also weighed in on Darlington’s impact.
"Darlington Raceway is nothing short of legendary in the world of motorsports, and it continues to play an important role in its contributions to the Pee Dee region and the state as a whole,” he said in a news release. “Were both proud of its history and look forward to its long future.”
