Motorsports has $4.5B impact on Charlotte area

Motorsports and spinoff businesses account for $4.5 billion in economic impact and an estimated 20,000 jobs in the 16-county region, according to a 2005 study by UNCC professor John Connaughton. How many of those jobs will be lost remains uncertain, but Connaughton still sees long-term gains as the economy rebounds.

"What's happening in racing right now is part of the overall cyclical up-and-down of the economy," he says. "It's not a structural problem. When times are tough, they're going to struggle."

Economic developers and those in racing circles remain bullish on the sport's future — and Charlotte's role as its de facto headquarters. Sanctioning body NASCAR remains committed to putting 250 to 260 employees in a new 20-story office tower being built next to the NASCAR Hall of Fame. Paul Brooks, NASCAR's top Charlotte-based executive, points to a weekly TV audience of millions of fans as proof that interest remains strong. Even with attendance declines estimated at 5% to 10% at the track, most NASCAR races attract 100,000 fans or more on a weekly basis, he adds. — Charlotte Business Journal

Social Media Auto Publish Powered By :