Published July 2004

In race to recruit International Speedway

Since the International Speedway Corp. (ISC) approached the Snohomish County Economic Development Council 10 months ago expressing interest in building a professional speedway in the Pacific Northwest, more eyes are turning to our county and a Marysville area site as the front-runner in the race to draw the proposed track.

Hosting a new speedway and the commercial-retail business that would be certain to follow the track holds the promise of huge economic rewards for many local communities, the Puget Sound region and the state.

The speedway’s economic benefits would be immense, adding a new major-league sport to our region that would create new jobs, infuse millions of new tourism-related dollars into the region, and boost tax revenues for state and local government.

Findings such as these were summarized in a speedway economic benefits study released in May and commissioned by the Checkered Flag Task Force, a five-county coalition of business and government leaders on which I serve as a Snohomish County representative.

Based on three NASCAR-sponsored races per year, the project would generate an estimated $87.3 million to $121.8 million per year, with $2.5 million to $4 million in state tax revenues and $3.5 million to $4.7 million in local tax revenues spread among several local jurisdictions. That is with average event spending of $709 per visitor per event.

The study also estimates that the adjusted total output created for Washington state would be $65.8 million to $98.4 million each year.

Moreover, The Berk & Associates study also estimates that out-of-state fans would spend an average of $58 million per year in the Puget Sound region and that the total economic impact from construction of the facility would support 3,000 jobs and $121 million in labor earnings.

The analysis is based on construction by ISC of an estimated $140 million facility with 75,000 seats and 68 luxury suites that would host three national race circuit events per year. The report does not estimate anticipated ancillary development associated with previous speedway projects or other activities that would occur at the site.

But economic gains are only one part of a winning formula that would greatly benefit Snohomish County if ISC builds a new speedway here. Improvements to the local traffic infrastructure and the preservation of open space for recreational and passive uses also represent key benefits.

These benefits are referenced in a conceptual proposal submitted to ISC and released publicly by the city of Marysville, the county and EDC in April to construct a Speedway and Family Recreation Area of up to 748 acres in the north Marysville-Arlington area. City and county leaders are clear that the property along the east side of Interstate 5 will be developed, whether it’s to support a racetrack or piecemeal build-out of housing developments or commercial-light industrial.

Through master planning, significant roadway improvements would support a local traffic system designed to accommodate heavy usage two to four racing weekends per year. The rest of the year, the roads would be available for regular motorists and residents of Marysville, Arlington, the Tulalip Tribes and Smokey Point.

The speedway and family recreation proposal presents the most environmentally sound option for property in north Marysville, enabling the coordination of significant open space, greenbelts, trails, stream enhancement and habitat restoration that would reinvigorate salmon spawning.

The racetrack would use on-grass parking around the facility as an alternative to paved parking. The grassy areas would be available nearly year-round for soccer fields and play fields when not in use for racing events.

If ISC chooses to locate at the Marysville site, many key issues such as traffic, noise, parking, environment and water resources would be thoroughly addressed through a full Environmental Impact Statement.

Financing and legislation are key issues around the next curve that need to be addressed, regardless of where the track lands. Winning in the bid for a racetrack is going to depend on astute business and local government leaders to develop a sound financing package that will reap the most benefits for the economy and taxpayers, while making good business sense from ISC’s standpoint to justify their investment in our region.

Bringing a speedway to Snohomish County is sure to focus more eyes on our region, enhancing our area’s reputation as a sports, entertainment and tourism destination. Major races attract hundreds of thousands of visitors each year, which would help boost tourism in the Puget Sound region and Washington state.

Even for those race fans who stay at home and watch the races on televisions across the nation, the speedway will showcase the Marysville area and Snohomish County. NASCAR racing is the second-highest-rated sports series on cable TV, after NFL coverage.

Additionally, NASCAR’s many corporate sponsorships would mean regular visits by business executives — an excellent opportunity for Snohomish County EDC and local communities to share the advantages of developing their businesses in our region. Yet another chance to show off Washington state’s potential.

Our coordinated efforts to bring a professional motor speedway to the region are built on the partnership model that helped a Washington state team, which included diverse members ranging from the Governor’s Office and legislators to the city of Everett, Port of Everett and the EDC, to successfully land the Boeing Co.’s 7E7 assembly in December.

This type of opportunity doesn’t come along very often. This will provide a winning combination for our communities, our citizens and for ISC. Snohomish County has already started our engines, and we can’t wait to take the checkered flag.

Deborah Knutson is president of the Snohomish County Economic Development Council. She can be reached at 425-743-4567 or by e-mail to dknutson@snoedc.org.

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