Daytona renovation plans suffer a 'setback' The Florida Legislature has ended its 2013 session, passing the largest budget in state history. But the legislature did not deliver tax subsidies that would have benefited Daytona International Speedway ambitious development plans.
Indeed, Speedway President Joie Chitwood said that the failure to pass the legislation is sending the flagship track for the International Speedway Corporation back to the drawing board to decide the feasibility of the track's plans.
"We are clearly disappointed by the outcome last week in the Florida Legislature," Chitwood said in a statement released on Tuesday. "We made a very compelling case for what could have been a successful public/private partnership with the State of Florida to create jobs and generate real economic growth. We also had substantial local, regional and statewide support.
"However, given this setback to our project, we are forced to reassess the proposed redevelopment and closely examine a number of factors such as its timing, size and scope, before we decide on next steps." AutoWeek
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