Lucas Oil Speedway Provides Over 28-Million Annually in Economic Impacts & Supports over 250 Jobs
Driving Prosperity Report Finds Lucas Oil Speedway Provides Over 28-Million Annually in Economic Impacts and Supports over 250 Jobs for the State of Missouri -
Lucas Oil Speedway located in Wheatland Missouri is a positive contributor to jobs, commerce and tourism according to an independent report recently completed by the United States Motorsports Association (USMA) & Washington & Jefferson College.
Report findings include nearly 29-Million in economic output annually from the Motorsports complex, primarily driven by the ability of the track to attract large numbers of fans and race teams from outside the local area. 254 jobs are supported annually by the Speedway. These jobs are a combination of direct employment at the track and local businesses benefitting from the operation of Lucas Oil Speedway.
Lucas Oil Speedway spans across all types of dirt track racing, off-road racing, karting, drag boats on Lake Lucas, and extensive camping facilities, which make it unique from an entertainment and economic standpoint.
Lucas Oil Speedway drives meaningful and measurable economic benefits to Hickory County and the State of Missouri. More than 113,000 fans are attracted to the facility each year. Hickory County (home to the Speedway) has a population of just under 10,000 – the speedway attracts more than 10 times as many fans to the area annually.
The rural location of Lucas Oil Speedway makes it particularly well-suited for an economic impact study since the vast majority of fans and race teams visiting the track travel from outside the local area and across the United States. Significant economic impacts come from out-of-town racers, who leave money circulating into the economy for several months following an event.
In 2019 the track was struck by a tornado leaving extensive damage. The rebuilding of the facility was a major plus for Wheatland, a rural community, which experienced an additional $2.5 million in economic benefits from the speedway reconstruction project.
This report was prepared by the United States Motorsports Association (USMA) in partnership with Robert Dunn, Ph.D., Associate Professor of Economics at Washington & Jefferson College, and Leslie Dunn Ph.D., Associate Professor of Economics. Additional qualified researchers and motorsports industry experts were utilized as consultants and support staff.
Input/Output Modeling was utilized by the professors at Washington and Jefferson College to estimate annual economic impacts from Lucas Oil Speedway. The study highlights both economic and socio-economic impacts Lucas Oil Speedway has on Wheatland, Missouri, the surrounding region, and the State of Missouri.
For more information or media inquiries regarding USMA Economic Reports contact USMA: email@example.com (704) 325-8003