Economic impact of the Memphis Motorsports Park.

They play their home games at AutoZone Park in downtown Memphis, Tennessee. state of Tennessee, after Memphis. Motorsports-related businesses are abundant in Memphis, including AutoZone, O'Reilly Auto Parts Auto parts are components of automobiles. The combined 2004 and 2005 estimates of total economic impact were to increase output by $111.0 million, earnings by $30.0 million, and employment by 1,565 jobs. FedEx is one of the major sponsors of motorsports events in this country. Memphis Motorsports Park Attendance,Actual for 1999-2002 and Estimates for2003-2005Year Attendance Percent Change1999 324,540 --2000 353,805 + 9.02001 452,985 +28.02002 514,808 +13.62003 (e) 551,554 + 7.12004 (e) 570,143 + 3.42005 (e) 590,604 + 3.6(e) = Estimate.Source: Memphis Motorsports Park.Table 3. For other uses, see Hooters (disambiguation).Hooters is the trade name of two privately held American restaurant chains: Hooters of America, Inc based in Atlanta, Georgia, and , Landers Dodge, La Prensa La Prensa ("The Press") is a frequently used name for newspapers in the Spanish-speaking world. One Nextel Cup event would attract over 100,000 raceday fans and many more fans to associated event activities. It is easy to see that Memphis Motorsports Park is a major asset for Memphis and Shelby County. In addition, Memphis Motorsports Park is growing in importance as a source of economic stimulation for Memphis and the Mid-South. Obviously, premium events have higher entry prices, while other events do not. The festival itself is split into four main events: The Beale Street Music Festival, the kick-off event which showcases a mix of local and national music acts, International Week , with the Beale Street Music Festival, the Sunset Symphony, and other music events, attracts 277,000 visitors each year. By comparison, Rosentraub found that the Atlanta Super Bowl had an impact of $215 million. , http://ww.msports.com/ PhoenixIntlRaceway/aboutphx_history.cfm.(12) Mark A. The NASCAR fan is a well-educated professional in a high-paying position with strong buying power Buying PowerThe money an investor has available to buy securities. 9,245), Milwaukee co., SE Wis., a residential suburb of Milwaukee on Lake Michigan; inc. The addition of the Memphis Grizzlies This is an article about the National Basketball Association team; for the defunct World Football League team, see Memphis Southmen.The Memphis Grizzlies are a professional basketball team based in Memphis, Tennessee.and the Memphis Redbirds The Memphis Redbirds are the class AAA minor league baseball affiliate of the St. The data clearly demonstrate that Memphis Motorsports Park is a major contributor to the Memphis Convention and Visitors Bureau estimates of the impact of tourism on Memphis. (14) The track will be host to two major races in 2003 and expects the American Motorcycle Association Super Bikes Championship event to generate over $10 million for the local economy. 26,866), Dade co., SE Fla.; inc. Motorsports is truly international in scope and stature, and racing attracts millions of fans to areas widely recognized for their involvement in the sport. state of Delaware. Finally, Memphis Motorsports Park adds over 348,000 visitor days to the tourism industry in Memphis.The list of tourism attractions and the attendance data shown in Table 5 were provided to the Memphis Convention and Visitors Bureau by the various attractions. With sufficient public support, Memphis Motorsports Park could easily become the largest tourism attraction in Memphis, exceeding the Grizzlies, Redbirds, and all other sporting events. Plus, 48 percent of fans work in professional, managerial, technical, clerical, and sales positions. The Cleveland-Marshall School of law was incorporated in 1969. Major events are held almost weekly throughout the year in the United States United States,officially United States of America, republic (2005 est. pl. at $170.8 million, the latter two races held in Indianapolis. (inc. Generally synonymous with f2f.2. (2) Dover Motorsports, Inc., currently hosts 16 major national events, including 13 NASCAR, 2 NHRA NHRA National Hot Rod AssociationNHRA Northland Human Resource AssociationNHRA National Human Resources AssociationNHRA Nursing Home Reform ActNHRA National Hospice Regatta AllianceNHRA National Heritage Resources Act (South Africa), and 1 IRL 1. Number Memphis Motorsports Events andAverage Attendance, for 1999-2002 andEstimates for 2003-2005Year Number of Events Average Attendance1999 98 3,3122000 105 3,3702001 141 3,2132002 207 2,4872003 (e) 219 2,5192004 (e) 225 2,5342005 (e) 231 2,557(e) = Estimate.Source: Memphis Motorsports Park.Table 4. Many other local firms were involved by either advertising, sponsoring cars or drivers, or working with the racing teams to provide creative world-class quality automotive parts and supplies. (ISC (1) (Internet Systems Consortium, Redwood City, CA www.isc.org) An organization founded by Paul Vixie, Carl Malamud and Rick Adams in 1994 and later sponsored by UUNET and other Internet companies. The track was intended to accommodate 150,000 race fans when finished and was expected to contribute $170 million annually to the Kansas economy. It opened in 1964, as the new home of major open-wheel racing in the Phoenix area, replacing the track at the Arizona State Fairgrounds as an automobile racing venue. The track held its first race on on June 2, 2001, when the Winston West came and raced in the Kansas 100. (language, robotics) IRL - Industrial Robot Language. Motorsports has grown in importance quickly and now represents the next frontier for professional sports in the Mid-South. Motorsports is the next major sports venue for Memphis and Shelby County.Table 1. Jude Golf 150,000 (e)(e) = Estimate.Sources: Memphis Motorsports Park, Ballparkwatch.com, andBasketballReference.com.Table 2. wvmotorsportscouncil.com/wvmcInfo.asp.(4) William Lilley III and Laurence J. Jude golf tournament, the Liberty Bowl, and the U.S. 1850. Sales taxes generated by the project were used as part of the effort to further development of the facility and the tourism district. An injection of $54.4 million generates $674,016 in Memphis taxes, $670,752 in Shelby County taxes, and $2,431,136 in state taxes. (jargon, chat) IRL - In real life. An analysis of the proposed speedway in Piano, Illinois, estimated that the facility would generate $90 million in economic impact annually after a $176 million construction phase. The renewed vitality of the downtown commercial district is a result of the community support and investments that have taken place in the social and physical infrastructure of the area. As the NASCAR Media Guide reports: (1)* Contrary to the stereotype, typical NASCAR fans are not blue-collar workers with little or no education earning less than $20,000 annually. As a result, wherever possible, this study contains conservative estimates and identifies the impact of the assumptions. The list of corporate sponsors for the 2003 season clearly demonstrates the diversity of corporate support that motorsports events receive in Memphis.Budweiser, Burger King, Cellular South, Chevrolet, Coca-Cola, Comp Cams, Domino's Pizza, Enterprise Rent-A-Car, Hertz Rental Equipment, Hilton Properties, Ikon Office Solutions IKON Office Solutions (NYSE:IKN) is a Fortune 500 company based in Malvern, Pennsylvania. events, at its racing facilities in Memphis; Dover, Delaware The city of Dover is the capital and second largest city[1] in the U.S. The bigger the event, the broader the market for attracting race fans to Memphis.As Memphis Motorsports Park grows, more major events will be held in Memphis (Table 2). (10)Another major race track owned by ISC is located in Phoenix and has seating for 78,000. The researchers concluded that the Grand Prix events created economic benefits at the local level that were unequaled among sporting events anywhere in the world.In the U.S., Mark Rosentraub, Dean of the Levin College of Business at Cleveland State University Cleveland State University,at Cleveland, Ohio; coeducational; founded 1964, incorporating Fenn College (est. It is located on the St. indoor tennis tournament are examples of special events that have increased the stature of Memphis as a home for professional sports.The city of Memphis and Shelby County Shelby County is the name of nine counties in the United States of America, all named for Isaac Shelby of Kentucky:Shelby County, AlabamaShelby County, IllinoisShelby County, IndianaShelby County, IowaShelby County, Kentuckymust begin to explore the untapped potential that motorsports represent. Miami Speedway is estimated to be the largest sporting event facility in Florida when measured by economic impact. , December 13, 2000.(11) Phoenix International Raceway Phoenix International Raceway, or just PIR, is a one mile tri-oval race track located in Avondale, Arizona. With a growing regional fan base, an expanding variety of racing events that stretch across most of the year, and the potential for additional national and international racing events looming on the horizon, the only thing that holds Memphis back is the essential public-sector partnership necessary to move Memphis to the next level. , Kroger, Ledbetter Meats, Millington Telephone Company, O'Reilly Auto Parts, Polaris, Safety Kleen, Saint Francis Saint Francis, city, United StatesSaint Francis,city (1990 pop. In addition, fan attendance is expected to increase each year. Formerly part of ALCO Standard.IKON integrates copy machines and fax systems to assist businesses. As of the 2000 census, the city had a total population of 31,542. The injection of $118.5 million in total economic activity generates $1,468,215 in Memphis taxes, $1,461,105 in Shelby County taxes, and $5,295,765 in Tennessee taxes. . that holds over 165,000 race fans and has an approximate $303 million direct annual impact on the region surrounding the track. Nextel Cup races in 2003. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). The oval is currently used to host NASCAR Busch Series The NASCAR Busch Series is a stock car racing series owned and operated by NASCAR. 1951. Motorsports is the future of professional sports in the Mid-South. ) and 400 acres of land owned by the county. Clair County, Illinois, USA, directly across the Mississippi River from St. Memphis Motorsports Park attracts a large percentage of visitors from outside the Memphis area and their expenditures make a large, positive impact on the local economy. Local advertisers included not only most of the firms previously listed, but Admiralty Admiralty,in British government, department in charge of the operations of the Royal Navy until 1964. will currently accommodate 140,000 racing fans--a typical size for the new generation of super speedways that have been built in major markets across the country. It is often used when referring to a Goods and Services Tax. Hospital, Sam's Town Hotel and Gambling Hall, The Final Detail, and Thompson Machinery were all local sponsors. A large Miami suburb with a growing Hispanic population, Homestead is a trade center for the redland district, known for its many varieties of citrus and other fruits and vegetables. Auto racing is the world's most popular sport, with over 2 billion tickets sold worldwide and with 50 billion televised impressions in 2002.2. Super Bowl was estimated to have had an economic impact of $367 million on San Diego County. Motorsports has quietly prospered in Memphis with the support of the citizens of the Mid-South. Any one event or business activity is a small part of the economic activity that takes place in a community. Auto racing has the highest number of live spectators of any sport in the U.S. Pop. With the expanded capacity, the Motorsports Park would be nearly 43.0 percent larger than the Liberty Bowl. An economic injection of $1,000 generates $12.39 in Memphis taxes, $12.33 in Shelby County taxes, and $44.69 in state taxes. John Gnuschke, "The Economic Impact of the Memphis Motorsports Park," November 1996.John E. Tourism, economic development, the quality of life, and numerous other factors combine to make Memphis an attractive place to visit, live, and work. . 435,146), Clay, Jackson, and Platte counties, NW Mo. Louis Cardinals. (3)Most major businesses support, sponsor, or are involved with the sport of racing. In fact, 36 percent of fans have annual incomes of $20,000-$39,000, and 44 percent have incomes over $40,000. The residents of the area deserve some good economic news, and Memphis Motorsports Park could lead the way for other economic development initiatives.Motorsports Events Are Major Economic EnginesNational and international sporting events attract millions of fans to the communities that host the events (Table 4). (6))Thus, in the United States, four of the top five sporting events in 1999 were motorsports events, and three were held in Indianapolis (Table 4). the MCVB, the Overton Square Entertainment District attracts 1.5 million visitors annually, and Graceland is estimated to have 700,000 visitors each year. Race tracks are spread all across America, and the local and national fan bases are enormous.5. Facts and FiguresArea, 24,181 sq mi (62,629 sq km). Complementary and other ticket concessions also reduce the average revenue per person. Attendance at Major SportingEvents, 2002Event Total AttendanceKentucky Derby 148,530NBA Finals 114,231World Series 306,414Super Bowl 67,603Daytona 500 150,000 (e)Brickyard 400 300,000 (e)Indy 500 400,000 (e)SAP U.S. ; East St. Board of Public Utilities were key partners in the project's development. Making Memphis a racing center would contribute substantially to the economic base of the city.Dover Motorsports, Inc., the owner of Memphis Motorsports Park, is committed to providing the highest quality racing experience for fans in Memphis and the Mid-South. In a recent study (updated in March 2003) entitled The Economic Impact of Travel in Memphis and Shelby County, the Convention and Visitors Bureau reported the following information:* Eight million people visited Memphis.* Convention delegate average daily expenditures were $266.00.* Corporate traveler average daily expenditures were $162.13.* Leisure traveler (2.1 persons) average daily expenditures were $230.00.* Daytripper average daily expenditures were $60.00.* Total visitor expenditures were estimated to be $2.3 billion.* Visitor spending supported payrolls of approximately $1.6 billion.* Over $165.0 million in state and local taxes were generated from visitor spending, or slightly more than $20.00 per visitor.Obviously, tourism is a major economic engine for the community.The Economic Impact of Memphis Motorsports ParkImpact studies are not without critics. Roads and pathwaysOne of the best known ridgeways is the Ridgeway National Trail, also known as The Ridgeway PathInn, and TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. This indirect impact measure accounts for the subsequent spending that takes place in Memphis as a result of the spending of visitors to the motorsports facility. So, in spite of the presence of the NBA, the growth potential for motorsports far exceeds any other activity in Memphis and Shelby County.Motorsports can add tremendously to the Memphis tourism market. Auto racing is far less seasonal than other sports, and most racing series operate from 8 to 10 months per year.4. The Homestead Homestead.1 City (1990 pop. and Championship Auto Racing Teams Announce Grand Prix of St. Motorsports fans travel long distances to see special events. to contribute approximately $290 million annually to the community. The developers are expecting a planned industrial and business park development around the track and museum complex. San Diego includes the unincorporated communities of La Jolla and Spring Valley. pop. Memphis and Shelby County must compete for the major motorsports races by working with Memphis Motorsports Park or lose the economic benefits to competitors from other locations.Motorsports Events Generate Tax RevenuesMemphis Motorsports Park is unlike other investments in sports facilities See:List of Auto Racing tracksList of indoor arenasList of NASCAR race tracksList of stadiumsVelodromeList of tennis courtsin Memphis. It held its first race in Daytona Beach, Fla. Facility on Delaware," June 9, 2001.(8) Denise Perry Donavin, "Conflicting Studies on Proposed NASCAR Track," The Elburn Herald, http://www.elburnherald.com/sgboard/ sg07.htm, May 14, 1998.(9) "Kansas Speedway," Business Facilities, http://www.facilitycity.com/ busfac/bf_01_06_special2.asp, June 2001.(10) "Haskett Steps Down at Michigan Speedway," The Holland Sentinel The Holland Sentinel is the daily newspaper in Holland, Michigan, created in 1896.The paper has a partnership with WOOD-TV and its newsroom is used for live reports by the television station. (The 2002 San Diego San Diego(s?n d??`g?), city (1990 pop. For more information, see snack foods. Memphis in May Memphis in May is a month long festival held in Memphis, Tennessee. When combined, the direct and indirect impacts form the total impact of an injection of new money into the Memphis economy as a result of visitors to Memphis Motorsports Park.As shown in Table 7, the total impact of visitor expenditures was estimated to increase output by $54.4 million, earnings by $14.8 million, and employment by 720 jobs in 2003. 1948. Memphis Motorsports Park generates millions of dollars in activity and tax revenues without public assistance. 1923). Eighty-eight percent are high school graduates, with 38 percent pursuing higher education. 1913. An estimated 4.2 million visitors go to the Beale Street Historic District each year.According to according toprep.1. The public and private sector working together is necessary and sufficient to make Memphis a major destination for motorsports fans from across the nation.Within motorsports are the venues that will provide the greatest return for the taxpayer's investment in professional sports. Louis is a city located in St. Motorsports Council, http://www. The Phoenix race track was estimated by the University of Arizona (body, education) University of Arizona - The University was founded in 1885 as a Land Grant institution with a three-fold mission of teaching, research and public service. (15) The 2000 NASCAR weekend at Homestead was estimated to have generated $120 million in additional revenue for the local area. Obviously, the list of participating corporate sponsors and involved business partners will increase over the racing season. Non-sponsor revenues from ticket sales and other sources for the 557,554 fans who attended were slightly over $5.67 million in 2003, an average of approximately $10 per person. B.B. Clearly, motorsports events mean big money for the communities that serve as their hosts.Recent studies of various racing facilities around the country have reached similar conclusions about the returns that communities might expect from single events and from the operation of racing facilities in general. of Long Beach. This would have a major positive impact on the otherwise neglected industrial properties and residential areas that surround the North Memphis facility. Over 13 million tickets were sold in 2002, and that is more than those sold by the NBA, the NFL NFLabbr.National Football LeagueNFL(US) n abbr (= National Football League) -> Fuball-Nationalliga , and major league baseball "MLB" and "Major Leagues" redirect here. (8)Some of the newest super speedways have been built in partnership with public entities. abilities.* Age:3.0% 18 and Under15.0% 19-2429.0% 25-3425.0% 35-4416.0% 45-5412.0% 55 and Over* Marital Status:22.0% Single64.0% Married14.0% Divorced/Widowed* Gender:62.0% Male38.0% Female* Occupation:27.0% Professional/Managerial64.0% Technical/Clerical/Sales14.0% Craft/Precision* Education:12.0% Some High School88.0% High School Graduate38.0% Some College or graduate12.0% Retired/Unemployed17.0% Other* Employment Status:72.0% Full-Time10.0% Part-Time18.0% Retired/Unemployed* Income:7.0% Less Than $10,00014.0% $10,000-$19,00017.0% $20,000-$29,00019.0% $30,000-$39,00015.0% $40,000-$49,00029.0% $50,000 and Over* Residence:28.0% Rent72.0% OwnThe market for Memphis Motorsports Park events stretches across the Mid-South region (see Map 1). Memphis Motorsports Park generated $54.4 million in direct and indirect economic activity from tourism in 2003. Unlike the limited seasons and markets in baseball, basketball, and football, motorsports facilities play host to events throughout most of each year. Estimated Tax Revenues from Tourism Generated by theMotorsports Park, 2003-2005Economic MemphisImpact Taxes2003 $54,400,000 $674,0162004-2005 118,500,000 1,468,215Total 2003-2005 $172,900,000 $2,142,231Shelby County TennesseeTaxes Taxes2003 $670,752 $2,431,1362004-2005 1,461,105 5,295,765Total 2003-2005 $2,131,857 $7,726,901Note: Tax revenues per $1,000 were $12.39 in Memphis, $12.33 inShelby County, and $44.69 in Tennessee.Source: Sparks Bureau of Business and Economic Research, TheUniversity of Memphis.Note: According to the industry standard, "motorsports" is considered a singular noun and is reflected as such throughout this article.(1) NASCAR Media Guide, Simmons Market Research Bureau, Inc., and Performance Research, 2001 (http://www.g2motorsports.com/ Demographic.htm).(2) Current information on the Memphis Motorsports Park and Dover Motorsports, Inc., can be obtained from their respective web sites, http://www.memphismotorsports-park.com/and http:// www.dovermotorsportsinc.com/.(3) The West Virginia West Virginia,E central state of the United States. Since 1999, nearly 2.2 million race fans have attended events at the Motorsports Park. An incomplete list includes: La PrensaArgentinaLa Prensa (Buenos Aires)La Prensa (Santa Cruz)Latina, Mahaffey Tent and Party Rental, Magnolia Suites and Inn, Marriott Downtown, Navy Liquors, Ridgeway A ridgeway is a road or path that follows the highest part of the landscape. For other uses, see Nashville (disambiguation).Nashville is the capital and the second most populous city of the U.S. With a growing fan base, Memphis ranked fourth as a new television market for NASCAR NASCAR(National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. of Plantation Oaks, ARAMARK, Bell South The Real Yellow Pages, Brims Snack Foods A list of snack foods is shown below. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. Grand Prix 200,000 (e)(e) = Estimate.Source: Mark Rosentraub, "Indianapolis MotorSpeedway Economic Impact Study," IndianaUniversity, Indianapolis, 2001.Table 5. 149,767), seat of Wyandotte co., NE Kansas (inc. There is meat processing and the manufacture of plastic and metal products. Motorsports, like the Grizzlies, Redbirds, concerts, the Memphis Zoo The Memphis Zoo is a zoo located in Memphis, Tennessee. to the range of local entertainment options has moved the city to a new level of national visibility. Some examples of the global importance of motorsports include the following excerpts and highlights of studies of motorsports events in the United States and around the world.Economic Impact Studies of MotorsportsA recent study of Grand Prix races in Europe found that 2 million spectators attended the 11 Grand Prix events in Europe in 2002. Media coverage of motorsports events is up 1000.0 percent in the last 10 years. It is NASCAR's "minor league" circuit (often compared to Triple-A baseball), and is a proving ground for drivers who wish to step up to the organization's "big league" circuit, the Nextel Cup. Clearly, Memphis Motorsports Park is a major tourist attraction Noun 1. The Daytona 500 was second with an impact of $240 million, followed closely by the Brickyard 400 with an impact of $219.5 and the United States Grand Prix This article is about the Formula One race. In keeping with: according to instructions.3. tourist attraction - a characteristic that attracts touristsattractive feature, magnet, attractor, attracter, attraction - a characteristic that provides pleasure and attracts; "flowers are an attractor for bees" that contributes to the diversity of entertainment options in Memphis and to the economic impact of tourism in general.The Memphis Convention and Visitors Bureau does an outstanding job of maintaining visitor information. 1850). Memphis Motorsports Park has generated millions of dollars annually in tax revenues for all levels of government in Tennessee.The data in Table 8 indicate the impact of expanding economic activity on taxes. It is unusual in several respects. , NASCAR Craftsman Truck Series, and USAC USAC Universal Service Administrative CompanyUSAC United States Auto ClubUSAC Universidad de San Carlos (University of San Carlos, Guatemala)USAC US Airways Center (Phoenix, Arizona)Silver Crown races. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation).Major League Baseball (MLB) is the highest level of play in North American professional baseball. The Economic Impact of Visitor Spending at MemphisMotorsports Park, 2003Direct Impact in 2003 DollarsSpending inCategory 2003 Dollars Output Earnings EmploymentRetail Trade $5,543,357 $10,633,267 $3,297,743 143.5Hotels,Lodging,andAmusement 6,125,840 11,989,494 3,608,120 154.0Eating andDrinkingPlaces 5,543,357 10,942,032 3,221,245 191.3Racing andTrackOperations 5,673,492 11,989,791 2,809,513 151.4MiscellaneousServices 5,543,357 8,892,653 1,875,872 79.8Totals $28,429,403 $54,477,238 $14,812,493 720.0(1) Because the multipliers are based upon 2000 regional data, directexpenditures needed to be converted to 2000 dollars for use with themultipliers.(2) Each entry in this column represents the total dollar change inoutput that occurs in all industries for each additional dollar ofoutput delivered to final demand by the industry corresponding to theentry.(3) Each entry in this column represents the total dollar change inearnings of households employed by all industries for each additionaldollar of output delivered to final demand by the industrycorresponding to the entry.(4) Each entry in this column represents the total change in number ofjobs that occurs in all industries for each additional one milliondollars of output delivered to final demand by the industrycorresponding to the entry.Table 8. Memphis Motorsports Park Memphis Motorsports Park is a race track located in just across the Loosahatchie River from Memphis, Tennessee, approximately ten miles south of Millington, Tennessee. With small investments in public infrastructure to support the motorsports park, the potential for motorsports to contribute to the growth and prosperity of Memphis and Shelby County can be greatly expanded. All rights reserved.. being offered in the city. , which represented a total contribution of $150 million over the life of the agreement. (4) Over $500 million was estimated to have been spent by event spectators, and the spending took place across 127,339 businesses that employed 738,354 workers. The Motorsports Park also has a major-league dragstrip that annually hosts an NHRA POWERade Drag Racing Series national event--the O'Reilly Mid-South Nationals presented by Pennzoil.In the future, it is hoped that Memphis Motorsports Park will be host to a NASCAR Nextel Cup Series event. The Tyson heavyweight championship fight and other premier sporting events like the FedEx/St. Attendance at Memphis Area Attractions, 1996-2001Area Attraction 1996 1997Botanic Garden 92,426 106,880Brooks Museum 85,723 80,441Children's Museum 109,044 117,355Coors Belle 44,085 39,767Fire Museum -- --Graceland 680,928 736,568Hunt Phelan Home 47,623 41,550Libertyland 245,352 205,575Lichterman Nature Center 32,384 35,181Magevney House 4,735 3,800Mallory-Neely House 6,583 12,774Memphis Queen Line 150,773 147,925Memphis Zoo and Aquarium 668,526 721,725Mud Island River Park 186,715 177,555National Civil Rights Museum 92,933 110,685Pink Palace and Planetarium 605,789 549,657Pyramid 3,874 13,218Woodruff-Fontaine House 10,656 8,903WONDERS -- 630,818 (1)Total 3,088,713 3,740,377Area Attraction 1998 1999Botanic Garden 134,385 123,823Brooks Museum 92,120 62,239Children's Museum 119,681 121,533Coors Belle 29,325 3,688Fire Museum -- 23,718Graceland 664,446 619,815Hunt Phelan Home 28,105 16,584Libertyland 263,312 263,492Lichterman Nature Center 27,817 21,670Magevney House 3,396 3,208Mallory-Neely House 11,725 10,626Memphis Queen Line 153,249 143,958Memphis Zoo and Aquarium 655,136 666,227Mud Island River Park 139,445 155,729National Civil Rights Museum 105,288 122,302Pink Palace and Planetarium 557,782 479,359Pyramid 8,425 5,072Woodruff-Fontaine House 4,940 6,684WONDERS 175,645 (2) 45,286 (3)Total 3,144,897 2,895,013Area Attraction 2000 2001Botanic Garden 132,656 140,150Brooks Museum 74,022 82,956Children's Museum 124,098 117,395Coors Belle 3,364 1,652Fire Museum 24,672 25,761Graceland 577,273 558,987Hunt Phelan Home 3,381 --Libertyland 244,056 164,538Lichterman Nature Center 20,690 39,894Magevney House 2,768 2,153Mallory-Neely House 10,581 8,315Memphis Queen Line 130,719 125,735Memphis Zoo and Aquarium 641,339 657,983Mud Island River Park 143,311 174,326National Civil Rights Museum 129,069 131,858Pink Palace and Planetarium 470,283 456,807Pyramid 3,796 1,423Woodruff-Fontaine House 5,368 5,492WONDERS -- 288,841Total 2,783,104 2,327,923Note: In 2001, the Rock 'N' Soul Museum had 48,301 visitors, while theGibson Guitar Factory had 5,370 visitors.(1) = 1997: Titanic Exhibit.(2) = 1998: Ancestors of the Incas and WWII Through Russian Eyesexhibits.(3) = 1999: WWII Through Russian Eyes.Source: Memphis Convention and Visitors Bureau.Table 6. The data include both resident and visitor attendance and help tell a story about the diverse entertainment options available in Memphis. Generates $367 Million Economic Impact on San Diego County," NFL News, http://www.nfl.com/news/story/6371262, May 14, 2003.(7) "The Economic Impact of the Dover Downs Dover Downs Hotel & Casino is a hotel and casino that has a racing facility that holds harness horse racing and NASCAR events. 1859), the other (1990 pop. (12) Most of the other Grand Prix events in the United States, such as the Grand Prix of St. , found that the Indianapolis Motor Speedway Coordinates: Indianapolis Motor Speedway, located in Speedway, Indiana (a separate town completely surrounded by Indianapolis) in the United States, is the second-oldest had an annual impact of $727 million on the Indiana economy. Gnuschke, Ph.D., Director, Sparks Bureau of Business and Economic Research/ Center for Manpower Studies The University of Memphis The University of Memphis is a public research university located in Memphis, Tennessee, United States, and is a flagship public research university of the Tennessee Board of Regents system. Motorsports Tourism in Memphis, 2003-20052003 2004Attendance (e) 557,554 570,143Room Nights 87,512 90,461Visitor Days 175,024 180,922Daytrippers 150,029 155,086Total 325,053 336,008Expenditures/AverageAverage Room Night * $ 70.00 $ 71.00Average Visitor Day ** 76.00 80.00Average Daytripper ** 60.00 63.00Expenditure/TotalAccommodations $ 6,125,840 $ 6,422,731Visitors 13,301,824 14,473,760Daytrippers 9,001,740 9,770,418Total $28,429,404 $30,666,9092005Attendance (e) 590,604Room Nights 93,708Visitor Days 187,416Daytrippers 160,657Total 348,067Expenditures/AverageAverage Room Night * $ 72.00Average Visitor Day ** 84.00Average Daytripper ** 66.00Expenditure/TotalAccommodations $ 6,756,976Visitors 15,742,944Daytrippers 10,602,966Total $33,092,886(e) = Estimate.* Inflated at 1.2 percent of 2004 and 2005 via estimates from Pinkowskiand Associates of 2002 ADR of $69.65 and D of 1.2 percent.** Inflated at 5.0 percent for 2004 and 2005. Given strong community support and the expansion of the Nextel Cup schedule to include other cities and racing dates, this event could attract over 100,000 racing fans to Memphis and could have http://getyourmemphisdreamhome.com/luxury-horse-farms-for-sale/Memphis-TN-Horse-Property/142/useful-assistance-and-primary-reviews.html - Horse Farms For Sale Memphis TN - an economic impact of more than $50 million on the area.With some assistance, Memphis Motorsports Park can easily become one of the premier sports and tourist attractions in the region. Dover Motorsports found that each NASCAR Nextel Cup race that was held in Dover, Delaware, contributed approximately $45 million to the local economy. (7) Over a year, the two NASCAR Nextel Cup events generated $94 million in revenue in Delaware, including $86 million from outside the state and $8 million from local operations and capital investments.Dover International Speedway Dover International Speedway (nickname: The Monster Mile) is a NASCAR race track located in Dover, Delaware, owned by, and serving as the corporate headquarters of, Dover Motorsports. Highway 12 on more than 1,400 acres [1] near Brooklyn, in the scenic Irish Hills area of southeastern Michigan. The speedway is a 1.5 mile tri-oval with 15 degree banking in the turns. The 2002 four-day NASCAR event was expected to do much more (expected attendance was 150,000 for the four-day event), and the track is now hosting three NASCAR events, so the impact of the track is expected to be much more than the $120 million impact estimated in 2000. (13) The 2.3 mile road course and Barber motorsports museum facility in Birmingham is expected to generate hundreds of millions in economic activity in Birmingham each year. The data in Table 6 show different rates between those people who attended a race and spent the night and those who were simply daytrippers (150-mile radius) from the Memphis region.The data in Table 7 reflect the total impact of visitors to Memphis Motorsports Park. When combined with the potential for complementary commercial developments, Memphis Motorsports Park may well define the future of North Memphis. If one Nextel Cup race has an economic impact of $55 million, the community cannot afford to pass up the opportunity to grow the largest and most rapidly expanding professional sport. Grand PrixAny of several competitive international road races for sports cars of specific engine size over an exacting, usually risky course. Petersburg," http://www.gpstpete.com/news/pressReleases/ 03_18_02.html, March 18, 1996.(14) Michael Tomberlin, "Barber Motorsports Park The Barber Motorsports Park is a large multi-purpose racing facility on a 740 acre (300 hectare) site near Birmingham, Alabama. In addition, Dover Motorsports, Inc., operates and produces the major U.S. The 557,554 fans who attended the 219 events in 2003 are estimated to have spent 87,512 room nights and a total of 325,053 days in Memphis. The future of Memphis is closely tied to the array of professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject.Please [ improve this article] or discuss the issue on the talk page. It is owned by Dover Motorsports, which also controls Dover International Speedway, Gateway International Speedway has expanded its professional staff and currently has a schedule of over 200 racing dates over a 10month racing season. (9) The Kansas Speedway hosted its initial NASCAR Nextel Cup event in 2001. For example, the state of Kansas contributed over $35 million in infrastructure costs and granted a 30-year tax abatement for the development of the Kansas Speedway Kansas Speedway is a speedway in Kansas City, in the U.S. ," The Birmingham News, March 13, 2003.(15) Sherri C. COPYRIGHT 2004 University of MemphisNo portion of this article can be reproduced without the express written permission from the copyright holder.Copyright 2004 Gale, Cengage Learning. (16) In 2003, these visitors are estimated to have spent $6.1 million on hotels and $22.3 million on goods and services In economics, economic output is divided into physical goods and intangible services. also owns the Michigan International Speedway Michigan International Speedway is a two-mile (3.22 km), moderate-banked, D shaped superspeedway located off U.S. The NEXTEL Cup track is now known as Dover International Speedway, and the Dover Downs name is used for horse racing events. Rossi, "Grand Prix Association of Long Beach Given Green Flag to Bring Major Motorsports Event to Streets of St. (11) Other racing events such as the Toyota Grand Prix of Long Beach contribute to the local community, but do so only one weekend per year. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. , and all the other activities, become a part of the social fabric of the community.Impact on TourismMotorsports are a major part of the Mid-South sports scene. from Memphis businesses of all varieties (Table 6). In the two subsequent years, the economic activity generated by the fans of motorsports was $118.5 million in direct and indirect spending from tourism. Louis, Illinois East St. Champ World Series, the Toyota Grand Prix Grand Prixn. For the motorcycle race, see United States motorcycle Grand Prix.The United States Grand Prix is a motor race which has been run on and off since 1908, when it was known as the American Grand Prize. The direct spending of visitors has a major impact on the income of businesses and workers throughout the community. Quietly and privately, Memphis Motorsports Park has operated successfully in North Memphis. This spending works its way through the community multiple times before the leakages from the Memphis economy exhaust the initial impact. The Homestead facility operates over 200 days a year.Tourism in GeneralThe Memphis Convention and Visitors Bureau (MCVB MCVB Melbourne Convention + Visitors Bureau (Australia)MCVB Memphis Convention and Visitors Bureau (Memphis, Tennessee)) estimates that Memphis plays host to more than 8.0 million visitors each year. Coronado is across the bay. Initial estimate for 2003provided by the Memphis Convention and Visitors Bureau.Source: Memphis Motorsports Park and Memphis Convention and VisitorsBureau.Table 7. They made their investment decisions on the expected impact of the races (five major races would equal the impact of the Chiefs and the Royals combined), the fact that the track would be in an otherwise neglected portion of the city, the tremendous exposure they would get to the nation's top companies, and the public exposure the city would receive. In addition, it should be noted that it is very difficult to identify the impact of any investment, whether public or private, on the overall growth of a community. DeFranco, "The Economic Impact of the European Grands Prix," February 18,1999.(5) Ideanamics, http://www.racing.com/indyNEWS115.htm,April 12, 2001.(6) "Super Bowl XXXVII Super Bowl XXXVII was the 37th championship game of the modern National Football League (NFL). The track currently holds 35,000 and could be expanded to hold 90,000 or more. The 1999 study found that the Indianapolis 500 had an impact of $336.6 million--the largest for any sporting event in America. Petersburg," http:// www.stpetegrandprix.com/news/pressReleases/02_07_02.html, February 7, 2002.(13) Chris Esslinger and Adam Saal, "Dover Motorsports, Inc. Some facts about the sport include the following:1. combined.3. Moriah, Hooters This article is about the two restaurant chains collectively using the shared Hooters brand. It generates tax revenues for Memphis, Shelby County, and Tennessee without involving public subsidies of the facility. The Grand Prix of Long Beach was estimated to have a $39 million impact on the community in 2002. By working with Dover Motorsports to further the development of Memphis Motorsports Park, Memphis and Shelby County can dramatically increase the benefits that accrue to the most Memphis-area businesses and employees. Over the next two years, visitor expenditures in Memphis and Shelby County are expected to exceed $13.1 million on hotels and $50.7 million on other goods and services in the community. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available.Also referred to as "Excess Equity. Attendance at Memphis Sporting Venues, 2002Event 2002 SeasonMemphis Motorsports Park 514,808Memphis Grizzlies 614,301Memphis Redbirds 794,550Liberty Bowl 55,207University of Memphis Men's Basketball 266,283University of Memphis Football 175,542Memphis Riverkings 25,215Memphis Explorers 20,352FedEx/St. The United States is the world's third largest country in population and the fourth largest country in area. Over the three-year period of 2003-2005, expenditures by fans who attend events at Memphis Motorsports Park are expected to generate over $12 million in state and local tax revenues.Therefore, instead of costing taxpayers money, Memphis Motorsports Park is a major generator of economic activity, jobs, and tax revenues. It is home to more than 3,500 animals representing over 500 different species. , Europe, and other areas of the world. Many of those tourists spend money at hotels, eating and drinking places, tourist attractions, special sports and entertainment events, gasoline stations, and shopping malls throughout the city. The site, which is located on the eastern fringes of the city, near Leeds, features a 2. Over 300,000 people attend Orpheum Theater events each year, and most of those involve music. Dover Motorsports, Inc., is on the move, and Memphis Motorsports Park is a major reason for its optimism.Memphis Motorsports Park is one of the most versatile motorsports facilities in the country (Table 3). (5) The Indianapolis Motor Speedway hosts three of the largest sporting events in America each year. During the track's construction phase, over 2,000 construction jobs with a $50 million payroll were expected to add substantially to the economy of the area.The state of Kansas, units of local government, and the Kansas City Kansas City,two adjacent cities of the same name, one (1990 pop. ; and Nashville, Tennessee "Nashville" redirects here. It has a 3/4-mile paved, oval track that has modern grandstands and luxury skyboxes. Petersburg and the Grand Prix of Denver (all of which are operated by Dover Motorsports, Inc.) have a similar impact. Major events mean major tourism and hospitality expenditures during race weeks, from Beale Street to the casinos to local restaurants and retail establishments. King's Blues Club on Beale Street attracts over 150,000 people each year and is only one venue in the Beale Street Historic District. Attendance at motorsports events has grown to over 500,000 people and ranks behind only the Grizzlies The name Grizzlies may refer to:Grizzly bearsMemphis Grizzlies (Formerly the Vancouver Grizzlies), a NBA Basketball team.Northside High School football team.Fresno Grizzlies, a minor league triple-a associate of the San Francisco Giants.and the Redbirds as the top sports draw in Memphis (Table 1). Originally established under Henry VIII, it was reorganized under Charles II. They mainly are, in alphabetic order (only car specific articles or articles with car section):Air filterAutomobile self starterBell housingBrakesBucket seatBumperBuzzerBattery, Comp Cams, and many others. Ranta, "Homestead NASCAR Weekend May Generate South Florida's Largest Sports-Related Impact," Miami Today, November 14, 2002.(16) Ratios based on calculations from Dr. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). It is also the county seat of Kent County, and the principal city of the Dover, Delaware Metropolitan Statistical Area which encompasses all of Kent County. The Zoo was founded in 1906 and resides on 70 acres (283,000 m) in the middle of Overton Park. List of snack foodsChips(Crisps)Banana chipsBuglesCheese curlsCheese puffsCombosCorn chipsNachosPita chipsPretzelPotato chips, Champions Sports Bar and Grill, Craftsman, Hawthorne Suites, Hampton Inn and Suites, Holiday Inn Mt. As stated or indicated by; on the authority of: according to historians.2. state of Kansas. And, motorsports events are unique in their economic impact on the community and on their potential for growth. The combined tourism district development/track and retail facilities that were planned in association with the track were on 1,100 acres of land owned by International Speedway Corp. The game was played on January 26, 2003 at Qualcomm Stadium in San Diego, California following the 2002 regular season. International Speedway Corp. Louis, Missouri