Study: Building Long Island Drag Strip Could Generate $17 Million Annually
United States Motorsports Association (USMA) has released findings of an independent report gauging the potential economic impact of building a dragstrip in Long Island, New York. The report was a year-long research effort, commissioned by the group Long Island Needs a Dragstrip (LINADS).
To quantify the economic and socio-economic impacts of a possible motorsports complex, data was collected from a number of sources. This included a comparison analysis of 17 existing race tracks determined to be similar in size and scope to a proposed Long Island track. In addition, industry officials provided data, along with race team and race fan interviews and surveys, according to USMA. A key component of the report was to focus on spending outside the race track by non-resident visitors.
The report concluded that a Long Island track would host an average of 84-event days per year, attracting more than 300,000 visitors annually. The track could produce more than $17 million in annual spending outside the venue.
The cost of building the track varies depending on the size and scope of the project, however, the report estimates it would be $18 million.
“The report makes an interesting comparison to the U.S. Open golf tournament, recently held on Long Island. When all factors are considered it’s estimated that a Long Island track will equate the value of a U.S. Open every five years,” USMA stated in a news release. “While the U.S. Open is not expected to return to the Island any time soon, a race track will provide a secure and consistent source of visitor spending year after year.”
The report also highlighted community benefits of providing a controlled racing environment, such as reducing illegal street racing.
“The ultimate goal of this process was preparing a clear report to be utilized by the community for consideration of the Long Island Race track project,” said Robert Johnson, director of government affairs for the USMA. “It’s a tool for telling the story of what life is like with a dragstrip in your community and how it benefits a region.”
Click to view the entire report.
