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Re: What on Earth are They Smoking
indy,indy,indy......its a shadow of what use to be and that shadow is only getting larger.
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Re: What on Earth are They Smoking
Originally Posted by ThePurple73: |
Re: What on Earth are They Smoking
The Appropriations Committee in the state Senate gave unanimous approval Thursday to the bill that grants tax breaks to the Indianapolis Motor Speedway.
The vote was 11-to-0. The bill is designed to permit up to $100 million dollars in upgrades at the home of the Indianapolis 500. The improvements may include lights for night racing and video boards to improve the fan experience. The track is owned by Hulman and Company and its CEO, Mark Miles, told the committee that the economic impact of racing in central Indiana amounts to more than $500 million per year and that improvements are necessary to compete with newer tracks in nearby states. Committee Chairman Luke Kenley said that lawmakers have been working on the deal with Speedway owners for about 2 years. It was supported by the Speedway Redevelopment Commission and the Indiana Chamber of Commerce. No one testified against the bill that creates a motorsports investment district and allows IMS to sell bonds that will be backed by state tax money generated at the track. They no longer need to sell tickets...they get bonds backed by state tax money...so if you live in Indiana you have paid for a ticket whether you attend or not!!! The Speedway doesn't need fans in the stands. |
Originally Posted by cmakin: |
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