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March 25, 2009

 

A study by the Washington Economics Group, Inc. has found that Darlington Raceway generates an annual economic benefit of $54 million for the Pee Dee region and state of South Carolina, including the creation of 874 jobs in the region.

 

The economic impact study was conducted over a period of several months and utilized the IMPLAN model, which quantifies the direct and indirect benefits of economic activity. In addition to identifying the total economic impact of $54 million, the study also found that:

  • NASCAR events and other activities throughout the year at Darlington Raceway result in $19 million of labor income for workers throughout South Carolina annually, benefiting workers in all sectors of the state’s economy.
  • These activities are also an important source of fiscal revenues. Each year these activities produce over $7.9 million for federal, state and local governments. Of this total, $3.4 million flow directly to state and local governments.
  • Year round track operations contribute $30 million annually toward South Carolina’s gross state product. Referred to by economists as “value added,” this is the portion of business revenues that provides compensation to workers and capital income. Value added is also the principle source of income to households and a key measure of Darlington Raceway’s ongoing contributions to the South Carolina economy.

“We take a great deal of pride in being good corporate and community citizens and the results of this study demonstrate our significant contributions to the Pee Dee region and state of South Carolina,” said Darlington Raceway President Chris Browning. “During the 60 year history of Darlington Raceway, the track ‘Too Tough to Tame’ has become a destination for motorsports fans from across the world.  We are thrilled to have such a significant, positive impact on the economy of South Carolina and expect to continue generating economic benefits to the state for years to come.” South Carolina Governor Mark Sanford agrees.

 

"Darlington Raceway is nothing short of legendary in the world of motor sports, and it continues to play an important role in its contributions to the Pee Dee region and the state as a whole. Were both proud of its history, and look forward to its long future," Gov. Sanford said.

 

Darlington Raceway hosts two major NASCAR races a year, the Southern 500® and the Diamond Hill Plywood 200. Additionally, the track “Too Tough to Tame” also hosts the Darlington Historic Racing Festival each September celebrating the history of oval track racing. During the 2008 Southern 500®, Darlington Raceway hosted fans from all 50 states and more than 7 different countries.

 

Darlington Raceway or the track “Too Tough to Tame” as it is known to many, is where the purest of NASCAR competition meets true southern hospitality. A NASCAR staple since 1950, Darlington Raceway has seen some of motorsports most talented drivers thunder to Victory Lane. In 2009 a NASCAR tradition, the Southern 500®, will return as Darlington Raceway celebrates 60 Seasons of Racing.

 

Be a part of history when Darlington Raceway celebrates 60 years of racing in 2009. Tickets to the 2009 Southern 500 ®, as well as the NASCAR Nationwide Series Diamond Hill Plywood 200 are on-sale now. Tickets can be purchased by calling the Darlington Raceway ticket office at 866-459-RACE or online at www.darlingtonraceway.com/tickets.

 

About Washington Economics Group Inc.

The Washington Economics Group, Inc. (WEG) has been successfully meeting client objectives since 1993 through customized economic and business consulting services for corporations and institutions based in the Americas. WEG is certified by the State of Florida as a Minority Business.

 

For more information contact: Jake Harris, Darlington Raceway Public Relations,

843-395-8823

 
         
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