Ganassi wants tax break to keep shop in Indy

Chip Ganassi Racing Teams Inc. is seeking tax abatement on a potential $3.5 million renovation of its Indianapolis facility. The organization's INDYCAR and International Motor Sports Association operations are based in the city and it says the expansion could lead to 25 additional jobs over the next two years. Ganassi currently employs 127 in Indianapolis.

The company says if the seven-year abatement is not approved, it would consider moving the Indy-based teams to its "underutilized" NASCAR-focused facility in North Carolina. The abatement would save Ganassi nearly $240,000. It says the expansion would improve the company's competitiveness on the track and with sponsors. Four INDYCAR teams and two IMSA teams are based at the current 79,000 square-foot Indianapolis facility, which was built more than 15 years ago. In all, the team competes in five different series with 17 drivers. Dan McGowan/InsideIndianaBusiness.com