NASCAR is a growing sport today with more than 50 million fans. A new racetrack in Washington would benefit the state economically through both revenue and the creation of jobs.
Sen. Brian Hatfield, D-Raymond, recently introduced a bill to create a public speedway authority and set up a funding mechanism using money from tourists. The money would be collected by creating a tax on rental cars and hotel rooms. Tourists would also pay for the track through revenue generated at the track on race weekends. These are alternative revenues that would eliminate local Washingtonians paying additional taxes to build the track.
Having a track built in Washington would also produce numerous jobs for skilled construction workers and local pavement companies would greatly benefit from a racetrack being built here. Once completed the track would employ several local employees, not only for racing events, but also for other events held at the track – including conventions, concerts and car shows.
With the recent loss of the Seattle Sonics, Washington needs a new area of pride for bringing in sporting fans. Officials with the International Speedway Corporation stated, “The Northwest remains an opportunity for this sport.”
With two races yearly, the track would bring in roughly $900 million to the state of Washington annually, and $1.8 million in tax revenue.
The numerous fans would also spend additional money in the community while here for races, and building and manning the track would create additional jobs, benefiting the local economy.