Economic Impact of Motorsports in the United States to be Researched
September 9, 2016
September 8, 2016 - The United States Motorsports Association (USMA) and Indiana University Purdue University - Indianapolis (IUPUI) announced today a partnership to conduct the first-ever nationwide economic impact study of Motorsports. The Motorsports Impact Report (MIR) is slated to demonstrate the billions in economic impacts and other benefits competitive racing provides to the United States. In addition to economic figures the report will include additional motorsports benefits such as Military Innovations, STEM Education, Charity Contributions, USA Made Products, and Small Businesses as they relate to Motorsports in the U.S.
Over the last several months a research team from the Sports Innovation Institute at IUPUI has worked with the USMA to design the framework and methodology for the study. The modeling, which has been titled 'Follow the Race Car', is an approach never taken before and will research much deeper than race event attendance and number of race tracks. This study will focus on the size, scope and economic activity generated from owning and operating an actual racing vehicle. The research will follow the money trail from the race car to the products, services, equipment and other spending that occurs nearly every weekend across the country.
"The really exciting part of this project is that we are uncovering new data and the true economic benefits of racing," said James Gladden, Executive Director of the Sports Innovation Institute. "Early indication of the research leads us to some very interesting data within the supply chain around the grassroots portions of competitive racing. I believe the report will be highly valuable to the industry, corporate sponsors, and public officials to gain a greater understanding and more complete story of the integration of racing in our economy."
Once completed the USMA will release the report to the racing industry and will take the study around the nation introducing the data to elected officials at the local, state and federal levels. The USMA was formed in early 2015 after a group of motorsports interested companies collaborated and identified the need for greater data and better organization for competitive motorsports, especially at the grassroots levels. The USMA was formed to manage the research effort and represent all platforms of racing across the country. There previously was not a national association for all competitive motorsports.
"Motorsports is central to our business at Lucas Oil and MAVTV. We support the USMA mission to identify the economic benefits of this industry and their work to advocate for Motorsports at all levels of government," stated Bob Patison, Lucas Oil Vice President and President of MAVTV. Patison is also a member of the USMA's leadership council, a diverse group of industry leaders who provide a broad spectrum of backgrounds and experience to guide the actions of the USMA.
About the USMA: http://www.UnitedStatesMotorsports.com
The United States Motorsports Association (USMA) is a non-profit organization that exists to promote the powerful economic benefits of Motorsports and represent the industry across America. The USMA PROVIDES data and research of value to the industry, PROMOTES the economic benefits of racing, and PROTECTS the racing industry through strategic advocacy.
Source: United States Motorsports Association. Inc.