Race to the Future: The Statewide Impact of Motorsports in Indiana
Executive Summary
Indiana and the Central Indiana region in particular, are known as the ‘Racing Capital of the World.’ Traditionally, this designation exists due the presence of the Indianapolis Motor Speedway and the annual running of the Indianapolis 500.
In preparing this report for the Motorsports and Vehicle Production Network project, we learned that motorsports touches nearly every corner of Indiana and is indirectly responsible for over 421,000 jobs while the cluster directly employs over 23,000 individuals in the state and pays an average wage of nearly $63,000, exceeding the average state wage by over $13,000.One challenge that project staff faced is that there was no pre-existing definition of a ‘motorsports cluster.’ To address this, a compilation of company information was compiled from databases supplied by Conexus and the Indiana Motorsports Association. 172 unique 6-digit NAICs codes were obtained and the most frequent NAICS codes were processed through an input-output table for Indiana. From this we were able to identify significant value and supply...