Indianapolis: The Racing Capital of the World

Transcription

1 Indianapolis: The Racing Capital of the World

2 The Indy Partnership Region

3 The Indy Partnership: Who We Are Indy Partnership Mission: New jobs, business and investment in Indianapolis Region Private, not-for-profit, and primarily funded via corporate investors Sales and marketing arm for Indianapolis Region 9 counties in Indianapolis Region Work closely with the state and local governments and with the Indiana Economic Development Corporation (IEDC)

4 Motorsports in Indiana - 1,400 motorsports companies in Indiana - More than 50 Race Tracks, including Figure 8, Oval, Road Course, Drag Strip, and Kart Tracks. - Largest racing tire manufacturer in the world Hoosier Tire Regional Race Tracks Indianapolis Motor Speedway Lucas Oil Raceway at Indianapolis Indiana State Fairgrounds Race Course Indianapolis Speedrome North Track Raceway Shelby County Speedway Paragon Speedway Anderson Speedway

5 Motorsports in the Indianapolis Region Home to World-Class Motorsports Events: Indianapolis 500 (Indy Car) Brickyard 400 (NASCAR) NHRA U.S. Nationals (Drag Racing) Red Bull Indianapolis GP (Grand Prix Motorcycle Racing) Grand Prix of Indianapolis (Indy Car)

6 Indianapolis Region Motorsports Industry - > 500 motorsports companies employing > 10,000 experienced, high skilled workers - Degree programs geared for the technical and business aspects of motorsports, through Purdue University, Marian University, IUPUI (testing lab), others - Auto Research Center - private testing facility

7 Regional Motorsports Employers Major Motorsports Teams Major Manufacturers and Organizations Andretti Autosport Dreyer & Reinbold Racing CFH Racing John Force Racing Pedregon Racing Prudhomme Racing Rahal Letterman Lanigan Racing Schmidt Peterson Motorsports Schumacher Racing Sinden Racing Target Chip Ganassi Racing Vision Racing Active Sensors AED Motorsport Products Auto Research Center Bishop Steering Technology Bruce Litton Trailers C&R Racing Dallara Hoosier Tire Nash Performance Group Saldana Racing Products U.S. Auto Club Vance & Hines

8 Central Location to Other Race Tracks - The Indianapolis Region is within a one-day drive of 50% of the U.S. population. - The Indianapolis Region has the most highway convergence in the United States. Nearest National Tracks Chicagoland Speedway (IL) Route 66 Drag Park (IL) Gateway International Raceway (IL) Kentucky Speedway (KY) Mid-Ohio Sports Car Course (OH) Mansfield Speedway (OH) Burke Lakefront Road Course (OH) Michigan International Raceway (MI) Raceway at Belle Isle (MI) Nashville Super Speedway (TN)

9 Indianapolis Motor Speedway History Founded in 1909 as an automobile testing facility, it quickly became the first significant motor sports venue in the United States By 1910 the crushed stone and tar track was resurfaced with 3.2 million paving bricks giving the Speedway its nickname The Brickyard Four turns 4.02 km (2.5 mile) oval Infield road course added in km (2.6 mile) track Since automobile races & 138 different winning drivers Source: IMS and Urban Land Institute, 2012

10 Speedway Redevelopment The Speed Zone attracting business, tourists, and residents Developing a business and fan friendly destination around the Indianapolis Motor Speedway Redevelopment of four districts: Motorsports Technology IMS Expansion Museum/Entertainment/Retail Town Center Speed Zone Elements: New Hotel/Conference Facility Increased Industrial Space More Public Gathering Space New Main Street Streetscape Public Art Extracted IMS Museum Source: Urban Land Institute and American Structure Point, 2009

11 Motorsports Higher Education Programs - Indiana University Sports Communications & Sports Marketing and Management - Purdue University Mechanical Engineering Technology - Indiana University Purdue University Indianapolis Motorsports Engineering & Mechanical Technology - Indiana State University Motorsports Management & Business - Marian University Motorsports Management & Business - University of Indianapolis Sports Marketing - Ivy Tech Community College of Indiana Motorsports Fabrication & Performance Technology Applied Science in Motorsports

12 Engineering Schools in Indiana 1. Indiana Tech 2. Indiana University- Purdue University Fort Wayne 3. Indiana University- Purdue University Indianapolis 4. Purdue University 5. Purdue University Calumet 6. Rose- Hulman Institute of Technology 7. Trine University 8. University of Evansville 9. University of Notre Dame 10. Valparaiso University 11. University of Southern Indiana Pre-engineering, dual degree and 3/2 programs are available through these institutions of higher learning: Ball State University, Bethel College, Butler University, Earlham College, Franklin College, Indiana State University, ITT Tech, Ivy Tech Community College of Indiana, Lincoln Tech, Manchester College, Taylor University, University of Indianapolis and Vincennes University.

13 Other Resources Auto Research Center - private testing facility Indiana Economic Development Corp Director of motorsports initiatives to help support the industry

14 State & Local Assistance Venture Capital Investment Tax Credit Motorsport Equipment Sales Tax Exemption Research and Development Tax Credit Research and Development Sales Tax Exemption Patent Income Exemption The Economic Development for a Growing Economy (EDGE) Hoosier Business Investment Tax Credit (HBI) Skills Enhancement Fund (SEF) Property Tax Abatement - Local Communities have the option to offer real and personal property tax abatement as an incentive to new and expanding businesses. Property tax abatement allows a property owner to phase in payment of property taxes over a designated period. This period may be any number of years between 1 and 10. The designating body determines the period. Source: IEDC

15 Cost of Doing Business - No Inventory Tax - 2nd Lowest Worker Compensation Rates in the U.S. - Lowest 10% of Real Estate Cost (Major Metros) - Lowest 25% of Electricity Cost - Low Property Taxes - No Tax on Professional Services - Competitive Wages and Incentives - Right to Work State

16 Best in Midwest for Low Taxes 1st in the Midwest and 10th nationally Source: Tax Foundation, 2014

17 Best in Midwest for Cost of Doing Business 1st in the Midwest and 6th nationally Source: CEO Magazine, 2014

18 A Great Place To Call Home Central Location Low Business Costs Skilled Workforce Arts & Entertainment World Class Universities Quality, Affordable Housing

19 The Indy Partnership Team Christy Plummer Administrative Assistant (317) Paula Galloway Manager, Business Development (317) Jeff Barnett Research Director (317)