Head2Head: Footing the bill in Washington

The main reason Washington state lawmaker Larry Seaquist is opposed to funding a proposed track in Kitsap County is because "... the taxpayers of Washington state built ... a new stadium" for the Seattle Seahawks.

Which would be a terrible thing, if it were true.

Apparently Rep. Seaquist's constituents live in hotels, drive rental cars to work and buy exorbitant amounts of lottery tickets -- because that's how the $300 million in public financing for Qwest Field was acquired. Oh, and then there's the little matter of Microsoft co-founder Paul Allen, who paid $100 million in cash -- plus interest -- for his share.

Safeco Field, home of the Mariners? No taxpayer dollars there, either -- unless you consider the half-cent tax increase on prepared food in King County and a rental car tax that covered the $340 million in public financing. Of course, all the cost overruns gave that project a black eye.

In fact, a bond measure hasn't been approved for a stadium project in Washington since 1968 when the public ponied up $40 million for a domed stadium to replace antiquated Sicks Stadium. So what's the big deal about a public-private racetrack project near Bremerton?

International Speedway Corporation is offering to pay $180 million -- plus any cost overruns -- for the proposed 80,000-seat track that is expected to cost $360 million. The other $180 million in construction bonds is expected to be covered by state and local taxes on ticket sales.

That's a 50-50 split, a lot more equitable than either of Seattle's stadium projects, the 1974 World's Fair in Spokane or the 1962 Century 21 Exposition in Seattle -- oh, by the way, funded with a pair of $7.5 million bond measures. And I don't think anyone who's ever ridden the Space Needle would argue with that decision.

Why do governments use public financing for large venues? Because it makes economic sense over the long haul. It directly and indirectly creates jobs, stimulates the local economy and provides a source of tourism.

In fact, spending for a NASCAR event at the proposed track is estimated to be $121 million annually -- an awful lot of state taxes that Rep. Seaquist and the rest of the legislature can use to spend on "the taxpayers of Washington state."

• Mark Aumann, NASCAR.COM

As a native of the Pacific Northwest, I would love to see NASCAR more available to the thousands upon thousands of fans in the area. However, it has to be the right deal, and this isn't the right deal.

It's funny to me that time and time again, multi-million dollar sport franchises find it necessary for the tax-paying public to fund new stadiums or arenas. This happens in football, basketball, baseball, hockey and now NASCAR.

International Speedway Corp. is looking for public money to help build a racetrack in Bremerton, Wash. Help us build this facility and then we will charge an arm and a leg for you to enjoy it. It's time for this type of business to stop.

Lets just be up front, ISC is loaded.

A quick search on its Web site shows in 2006, the company's total revenue was $798.4 million, up more than $50 million compared to 2005. Operating income for ISC in 2006 was $199.2 million. I'm no math major but at quick glance I see close to $600 million dollars ready to spend on a racetrack ... or two, or three.

The deal in Seattle is a generous one when compared to other sport franchise deals. ISC will pay for half of the racetrack, plus any overruns. The half the public is responsible for will be paid by bonds covered with a 5 percent tax on ticket sales; the part they don't tell you is there will be a state sales tax increase.

So all the non race fans outside Seattle, in Pasco, Spokane, Olympia and Walla Walla, among others, get to pay for a track they have absolutely no use for, while ISC makes a ton of money off of it. Gotta love big business don't you?

ISC will make its money back on this track in no time and start turning a profit pretty quickly. The good folks in Washington will be paying for this track for years to come, with few benefits coming to those outside of the Bremerton area.

Reports say a NASCAR event could generate $121 million annually. How much of that goes to the Eastern and Southern parts of Washington, and how much will stay in Seattle and its suburbs? The state as a whole won't benefit as much as some would like you to believe.

If ISC wants a track in the Pacific Northwest, then build it. It has the capital to do just that. Don't make the hard-working folks of Washington foot half of the bill so profit margin doesn't take a hit.

• Bill Kimm, NASCAR.COM