The Economic Impacts of the North Carolina Motorsports Industry

Abstract

The southeastern part of the United States has traditionally been viewed as the cradle of stock car racing. During the past decade, NASCAR has expanded out of its traditional geographic region and has grown to be the second most popular sport watched on television in the United States. This study is based on data collected for the motorsports industry in North Carolina for 2005. In this study, the state was divided into seven regions. The Input/Output matrix for each region provides multipliers based on the new North American Industrial Classification System definitions of industries. The total economic impacts for 2005 were estimated at more than $5.9 billion in increased total output, 27,252 in increased employment, almost $1.7 billion in increased total employee compensation, and almost $2.8 billion in increased total value added.

Keywords

motorsports economic impact studies automobile racing NASCAR specialized economic clusters

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