Track announces direct impact of $417 million, indirect of $1.4 billion from 2012-14
Buy: Tickets for Food City 500 weekend | Play: NASCAR Fantasy Live
The Bristol Tennessee/Virginia Chamber of Commerce and Bristol Motor Speedway announced Wednesday that track events have accounted for nearly half a billion dollars in direct impact over the past three years.
The World’s Fastest Half-Mile and its dragway accounted for more than $417 million in direct economic impact from 2012 to 2014, according to research derived from racing and related events held on-site, charitable events and tax revenue. The indirect economic impact of the facility on the regional economy was valued at $1.4 billion.
“Our community, along with numerous others in Northeast Tennessee and Southwest Virginia, reaps the benefits of having a partner such as Bristol Motor Speedway in our backyard,” Joy Madison, president and CEO of the Bristol TN/VA Chamber of Commerce, said in a Bristol Motor Speedway release. “Visitors who come to our area for a race experience are also spending money in our communities, and it’s made a significant impact on our region and all neighboring states.”
In addition to Madison, the track welcomed representatives from local chambers of commerce and tourism officials from the 18-county region that makes up Bristol’s local footprint.
“One of the perks of working at BMS is that we come in contact with hundreds of thousands of people every year,” Jerry Caldwell, executive vice president and general manager for Bristol Motor Speedway, said in a track release. “For each of these individuals, their trip to Bristol isn’t limited to their time at the Speedway or Dragway. Instead, it includes their interactions and experiences while staying in hotels, dining at local restaurants, filling up at the gas station, shopping at the grocery store, visiting local points of interest, and much more.
“We are extremely humbled and grateful to the regional community and businesses that set the stage for this kind of impact.”
Looking ahead to Sept. 10, 2016, BMS will become college football’s largest venue as the short track hosts the “Battle at Bristol” between Virginia Tech and the University of Tennessee. The event is expect to provide a direct impact of $125 million and an indirect impact of over $439 million.
As the track prepares to host its first of two race weekends this year, highlighted by the Food City 500 Sprint Cup Series race on April 19 (1 p.m. ET, FOX), Caldwell announced the expansion of its open-air box seats in Turn 1 as well as expanded park-and-ride option for fans.
Boxes at The Edge were introduced in August 2014, and off-season construction has led to additional boxes, which includes access to The Edge Deck just 22 feet from the wheel fence. Amenities for the unique experience include plush seats, in-box attendant service, a Racing Electronics headset and scanner, a pre-race track walk pass and a $25 Levy food credit. For more information, visit BristolTix.com.
RallyBus, a crowd-powered, on-demand event travel company, will provide four Tri-Cities park-and-ride locations in Bristol, Virginia, Johnson City and Blountville, Tennessee and a soon-to-be-named site in Kingsport, Tennessee. To reserve a space for Saturday, April 18 or Sunday, April 19 and learn more about a reduced price of $20 per round-trip ticket, visit Rallybus.net/MyBristol.
The existing Sugar Hollow Park park-and-ride, located at Lee Highway off Exit 7 in Bristol, Virginia, will continue without reservations for $20 round-trip shuttle service to BMS. Buses depart at the top of the hour, beginning at 9 a.m., on Saturday and Sunday of race weekend.
Free parking with free transportation to the speedway will remain available at the Speedway Parking and Camping lot at the corner of White Top Road and Highway 394 and the Whitetop Creek Park lot located off of Highway 394 on Sportsway Drive.
MORE:
|
|
PLAY: Sign up
|
WATCH: Latest
|
FOLLOW LIVE: Get
|
|---|
NASCAR news
