A study by the Washington Economics Group, Inc. has found that Talladega Superspeedway generates an annual economic impact of $407 million for the region and state. These economic activities create 7,955 jobs for workers throughout the Alabama economy. The economic impact of the Superspeedway is equivalent to 11% of Alabama’s total revenues from tourism.
The economic impact study was conducted over a period of several months and utilized the IMPLAN model, which quantifies the direct and indirect benefits of economic activity. In addition to identifying the total economic impact of $407 million, the study also found that:
- Races and other activities at Talladega Superspeedway result in $149 million of labor income for workers throughout Alabama each year, benefiting workers in all sectors of the state’s economy.
- These activities are also an important source of fiscal revenues. Each year these activities produce over $64 million of fiscal revenues for federal, state and local governments. Of this total, more than $29 million flow directly to state and local governments.
- Track operations contribute $231 million toward Alabama’s gross state product each year. Referred to by economists as “Value Added”, this is the portion of business revenues that provides compensation to workers and capital income. The Superspeedway’s “value added” helps to support the drive to create a high wage economy in the state.
- The total economic impact of $407 million equates to $88.50 of benefit for every man, woman and child in Alabama. This benefit is felt through better school systems, improved roadways, higher wages and much more.
“For forty years Talladega Superspeedway has welcomed guests from across the country and around the world to Alabama,” said Superspeedway President Rick Humphrey. “We take a lot of pride in the economic benefits that these visitors bring to the region. When we commissioned this study, we had no idea of the results. These numbers are very compelling, and I’m excited to be a part of this organization and its huge positive impact on the residents of Alabama.”
Alabama Governor Bob Riley praised the track for its efforts and vowed continued support.
“Everybody knows that Talladega Superspeedway has a big impact on our state, but these figures demonstrate clearly that the economic impact is dramatic, probably larger than most people would have guessed.
“The Governor’s Office and the state Tourism Department are big supporters of the activities that take place at Talladega. The two NASCAR weekends draw more people who spend more money than any other sports’ activity, or other event in the state each year. We’ll help make the economic impact of the Superspeedway grow in every way we can.”
The track hosts two major race weekends a year, the Aaron’s Dream Weekend in the spring, featuring the NASCAR Nationwide and NASCAR Sprint Cup Series, and the AMP Energy 500 weekend in the fall, featuring the ARCA RE/MAX, NASCAR Craftsman Truck and NASCAR Sprint Cup Series. The track encompasses over 3,000 acres of land and features over 143,000 permanent seats. During the 2008 Aaron’s 499, Talladega Superspeedway hosted fans from all 50 states and more than 20 different countries.
Tickets to the Oct. 3-5 AMP Energy 500 weekend are available at 1-877-Go2-DEGA or www.talladegasuperspeedway.com. For our hearing impaired guests, please call TDD 1-866-ISC-TRAK (1-866-472-8725). Tickets also are available in person by visiting the Talladega Superspeedway Ticket Office from 8 a.m. - 4 p.m. CDT, Monday- Friday.
About Washington Economics Group Inc.
The Washington Economics Group, Inc. (WEG) has been successfully meeting client objectives since 1993 through customized economic and business consulting services for corporations and institutions based in the Americas. WEG is certified by the State of Florida as a Minority Business.