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OT-Texas Motor Speedway: economic study April 2004

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Old 04-04-2004, 10:20 AM
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Default OT-Texas Motor Speedway: economic study April 2004

This is long, but is an interesting economic study just completed about Texas Motor Speedway. Huge financial impact on the North Texas economy! Wish boat racing could find some of this success....

"Texas Motor Speedway Put More Than $2 Billion into EconomyBy David Wethe, Fort Worth Star-Telegram, TexasKnight Ridder/Tribune Business News Apr. 2--

Thanks to NASCAR's growing popularity, Texas Motor Speedway grew faster and generated more money than almost anyone expected. The speedway has pumped more than $2 billion into the North Texas economy since construction began, Fort Worth Mayor Mike Moncrief said Thursday. That includes about a $200 million annual impact some years -- the equivalent of the money generated during Houston's Super Bowl week. "It's the economic engine that drives the Metroplex year-round," said Moncrief, who unveiled the speedway's first public economic impact study since its opening in 1996. A host of area governments and tourism groups paid for the study, which took about six months. Consider: --The speedway is projected to pump $214 million into the economy in 2004, boosting sales for everything from restaurants and shopping malls to hotels and tourist attractions, Moncrief said. --About 900,000 people visit the speedway each year, with about 60 percent of those coming from outside the area. --Gate admissions kick in $28 million annually, food and beverage sales account for $5 million, and merchandise sales provide an additional $12 million. --The City of Fort Worth has reaped about $22 million in tax benefits from the speedway since 1995. The state has garnered about $96 million in taxes. --The speedway's economic impact on the Metroplex is expected to grow about $4 million a year through 2008. "I knew the numbers would be large, but I didn't know they'd be that large," Moncrief said over the low hum of race cars qualifying for this weekend's NASCAR Busch Series. ."TMS and NASCAR in general have grown faster than anybody anticipated," Clower said. Sponsors of the latest study include the Fort Worth Chamber of Commerce, Denton County Economic Development and Town of Northlake Economic Development Corps. Texas Motor Speedway did not contribute any money for the study, said Eddie Gossage, the speedway's general manager.

The economic impact of the speedway could probably compare to Daytona International Speedway, which hosts the Daytona 500, said Ernie Saxton, who publishes Motorsports Sponsorship Marketing News in Philadelphia. "It would be ever more successful if we were able to bring a second Nextel Cup race to Texas Motor Speedway," Moncrief said. The race could add $73 million a year from 2005 through 2008, the study estimates. To put the speedway's size in comparison, the number of people attending all of this weekend's events at the speedway would fill Texas Stadium eight times over, Moncrief said. "Texas Motor Speedway," he said, "is one well-run machine."

----- (c) 2004, Fort Worth Star-Telegram, Texas. Distributed by Knight Ridder/Tribune Business News. "

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Old 04-04-2004, 10:27 AM
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Nascar is one money making machine. No doubt about it.
 
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Old 04-04-2004, 01:27 PM
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Offshore racing will NEVER reach those kinds of heights ever

Can you imagine if nascar changed tracks at the last minute every other race? Or didn't pay out winnings after the races. and the list can go on and on....
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Old 04-04-2004, 02:19 PM
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watching now...I didn't realize Jr got penalized for his adimitted intensional spin! Just what I thought when he did that last week but forgot to follow up on site news. At least he bellied up and admitted his fault. Radio transmission's helped him do that though!
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Old 04-04-2004, 02:45 PM
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you see those fire crew guys? double layer suits in addition to helmut with mask underneath. That has to be a hot job. Working in a steel mill would be like living in paradise. How the hell they don't overheat in the summer is beyond me.
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Old 04-04-2004, 05:23 PM
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3-100th's of a second between the 1st n 2nd place wow
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Old 04-04-2004, 05:25 PM
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watch that kid...he is the next top gun #9
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Old 04-05-2004, 02:18 PM
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Just got home from the race..watched it from the Lone Star Tower, what an awesome place. I know we pumped a lot of $$ into the economy. Even wearing my autographed Kasey Kahne hat today

NASCAR screwed him...way too many caution laps..they said they were going green 3 times then backed off to let people pit.. 1 more lap and he would have had his first win
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Old 04-05-2004, 02:32 PM
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You lucky dog ...or was that Harvick that time!! KK is like a young Jeffy under a new Ray E, huh?
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Old 04-05-2004, 02:37 PM
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[i]NASCAR screwed him...way too many caution laps..they said they were going green 3 times then backed off to let people pit.. 1 more lap and he would have had his first win [/B]
They sure as hell did. And all of the bad luck and uncalled for caution laps and the stupid rule of lining up lapped cars in the front of a restart was barely enough to keep that car in check. I have said it before on this board. That Number 9 Dodge is the FASTEST CAR IN ALL OF NASCAR. Kasey had his way with every car out there. NO ONE had enough horsepower to compete with him. Also I was LMAO when Bill Elliott pounced on the one lap wonder Bobby Labonte. Elliott used that Dodge Dominating horsepower and just checked out.

I'm angry because I firmly believe that NASCAR deliberately waved off green flag starts in order to give the front runners a chance. They didn't pull this crap until Kahne was a lap down. (a lap down just for pitting at the wrong time mind you) That's just WRONG and I think it needs to be looked into.


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