Fans in Minnesota will be happy to know that in 2020, they will be able to attend the Talladega Superspeedway for some exciting NASCAR racing. Located in the heart of the Midwest, this motorsport hub will become the fourth largest stadium in North America. The track was originally constructed in 2015 and the first race was held in 2017. Prior to getting into specifics, let’s take a quick look at the various forms of income that the city of Talladega receives from the Speedway.
Sports Arena
The sports arena is one of the major sources of revenue for the city of Talladega. This is thanks in part to the fact that the NASCAR race weekends are held there, attracting large crowds and boosting box office numbers. The average attendance for a NASCAR race is around 50,000, so it’s safe to assume that the facility regularly draws hundreds of thousands of fans every year. In 2020 alone, the sports arena brought in around $26.75 million, which is an increase of around $3.75 million from the year before.
Racetrack And Convention Center
The convention center and racetrack were originally built alongside one another and share a lot of the same amenities. However, the arena hosts several large events a year that the convention center lacks the capacity to accommodate. Also, the convention center primarily serves an interstate group of travelers who are here for the day, while the sports arena is a hub for local residents and fans. This is why the sports arena generates a higher revenue than the convention center.
Morton Mitchel Theatre
The theatre is a part of the city’s Cultural Center, which also includes the library and the arts museum. These are the three other sources of income for the city. The theatre alone contributes around $7.5 million to the city’s coffers each year, which makes it the third largest source of income after the sports arena and convention center. The stage lights, sound system, and projectors all come at a price tag and add up quickly, so the city is constantly seeking ways to upgrade and improve the theatre’s equipment. It would not be a stretch to assume that the theatre earns an estimated $500,000 per year just from ticket sales and merchandise alone.
Roadway Impacts
Talladega is a four lane road and the city is in the process of expanding it to 6 lanes, adding turning lanes and bridges to connect the two sections. This is expected to boost the city’s economic profile significantly, as there will be more people living and working there. The road will also be widened to accommodate the additional cars and trucks that will be arriving during the NASCAR race season. The city gets something in return for paving the way for racing: more fans, more dollars, and a generally happy motorhead.
Anchorage
The city of Anchorage actually gets four sources of income from its anchorage airport: the airport itself, the airfare business, the railroad station, and the car rental company. The airport itself pays for a significant portion of the city’s operations and is a major employer, contributing around $32 million annually to the local economy. Even the airfare and car rental businesses contribute a significant amount to the city’s coffers. If you add up all the income from these four sources, it comes to over $100 million each year, which makes Anchorage one of the wealthiest cities in America.
It’s important to note that although this may be a lucrative endeavor for the city of Talladega, it does not come without its costs. The increased economic activity that accompanies a NASCAR race results in a significant rise in property values, along with a rise in rental prices and upkeep on buildings, infrastructure, and equipment. Also, traffic congestion is a significant problem in the week leading up to the race and during the race itself. Last but not least, large gatherings of people can lead to tensions and conflicts between groups of people, which can sometimes turn violent. This is certainly not a problem that exclusive sporting events like the Masters or the Kentucky Derby bring, but it’s something to consider if you’re planning a race in a larger city. The good thing is that the city of Talladega has the budget to address these issues, while still getting to enjoy its new found prosperity from motorsport.