Bill Could Help Give IMS Much Needed Facelift
By: Michael C. Fehn
Updated: February 11, 2013
A bill expected to be introduced today could give the Indianapolis Motor Speedway some public money for a much-needed facelift.
Indiana State Senator Michael Young's legislation would create a motor sports investment district. The classification would help collect existing state sales income and corporate taxes for investment at the speedway.
Track officials say if the bill passes, they would start by installing new video boards, better lighting, and modern grandstands, which would cost between 70 and 100 million dollars.
IMS officials say they've spoken with lawmakers about possible state assistance about 18-months ago.
Indiana State Senator Michael Young's legislation would create a motor sports investment district. The classification would help collect existing state sales income and corporate taxes for investment at the speedway.
Track officials say if the bill passes, they would start by installing new video boards, better lighting, and modern grandstands, which would cost between 70 and 100 million dollars.
IMS officials say they've spoken with lawmakers about possible state assistance about 18-months ago.
