What does NASCAR Cup Series mean for metro-east? Pritzker sees economic windfall and more
The NASCAR Cup Series will take center stage this weekend in Madison, with tens of thousands of fans flocking to World Wide Technology Raceway.
Considering the potential financial ramifications for the state, Illinois Gov. J.B. Pritzker counts himself among them.
In an interview Thursday, Pritzker lauded the race, citing the potential economic windfall for the region and state and the prestige the NASCAR Cup Series will bring to Illinois.
The race and associated events — collectively called Enjoy Illinois 300 thanks to a $700,000 naming rights deal with the state — continue through Sunday’s headline event and are expected to bring more than 80,000 fans and an estimated $60 million economic impact.
“This is a really big deal,” Pritzker said. “Bringing the NASCAR Cup race to the area not only means that we’re going to have 80,000 people in a sold out stadium but also experience $60 million of economic impact for area. That’s what we need to be doing for the metro-east.”
The Rawlings Sports Business Management department used projections for attendance, ticket sales/revenue, sponsorship sales, hotel and meal usage provided by World Wide Technology and NASCAR, along with multiplier data collected by Maryville University’s John E. Simon School of Business to estimate the projected economic impact of a three-day NASCAR Cup event at WWTR.
Here’s how it breaks out:
- Direct event revenue — $34,219,887
- Hotel — $13,464,201
- Meals — $12,405,985
- Total — $60,090,073
Pritzker said these dollar amounts benefit the entire state.
“I think this has a wonderful ripple effect for other parts of the state,” Pritzker said. “People visiting from surrounding states and even further are coming and staying overnight and enjoying part of their week and weekend in Illinois.
“Maybe they’ll take the opportunity to drive through the wine country in southern Illinois and take in many other tourism sites such as in Springfield to visit the Abraham Lincoln sites. People who have never visited Illinois are coming for the first time, and that leads to a ripple effect and terrific economic impact for our residents.”
The governor went on to discuss what he called a “thriving” and “growing” hospitality industry in the metro-east and how events such as the NASCAR Cup Series only will bolster that growth.
“Tourism is one of the largest industries in Illinois and should be a major provider for economic opportunities for the metro-east,” he said. “It’s a wonderful area to visit. I’m excited about the jobs created when we bring events to the area. I think people coming this weekend not just renting hotel rooms but also visiting bars and restaurants in the area is great for the entire region.”
What happened to Chicagoland?
This weekend’s event marks the return of NASCAR to Illinois and the first-ever such event in the St. Louis region. Previously, Chicagoland Speedway in Joliet, which opened in 2001, hosted a NASCAR Cup Series event until 2019.
After COVID-19 canceled the 2020 season, however, the 2021 NASCAR race was given to Road America in Wisconsin. The facility in Joliet was then closed in 2021.
The loss in Joliet turned into the metro-east’s gain.
“I’m very pleased with the development here, but I not only want to help build this entertainment venue but also build toward so many great infrastructure opportunities for the metro-east,” Pritzker said.
Pritzker on naming rights
Pritzker also addressed the $700,000 bill the state paid for the race’s naming rights and what the taxpayers should expect for that investment. Pritzker called it marketing capital the state can use to promote tourism for Illinois.
“The tax dollars that come back are from the tens of thousands of people coming to this event,” Pritzker said. “Not just this weekend spending their hard-earned dollars, but also the benefit from marketing Illinois gets from having a great race like this. People now investing in the future of the area will give businesses a second look to come to this area. Whether in hospitality or industry, this is a great way to market Illinois’ growth and trajectory as an economic powerhouse.
“This also is a great way for the people to know this race is a lot of fun, but, especially, about having a lot of fun in the state of Illinois. I’m excited about the prospect of this.”
NASCAR Series represents big opportunity
Beyond that, Pritzker believes events such as the NASCAR Series will open the eyes of people and businesses and only enhance Illinois’ prestige.
“Part of the larger effort I have believed in is this is a great state and the governor ought to be the chief marketing officer,” he said. “I believe we should invest in entertainment and tourism and all the great things that bring people to Illinois. People will look at this and say Illinois is a great place, that growth is taking place and that the areas is tremendously exciting.
Pritzker expects attendees not only from the region, but also from all across the country, while outlining his satisfaction and excitement in seeing the event come together.
“There are people who follow all the NASCAR Cup races,” Pritzker said. “They’ll be coming from all across the nation. This is an hour, two-hour, or three-hour drive from so many states surrounding the metro-east. I believe people from around the region and all around the country will come to this great event. That’s why I worked so hard to bring the race here.”
High praise for Francois
Pritzker issued high praise for Curtis Francois, the owner and CEO of WWTR, which he rescued from being demolished and sold for scrap when he purchased the track in 2011.
“He’s been a great ally for local people and is also very committed not to just this success but to the years ahead for the track and entire region,” Pritzker said.
He further commended Francois and his team for taking a chance on the metro-east and said securing the NASCAR Series is the payoff for their hard work and perseverance.
“The World Wide Tech Raceway was a speculative venture by the owners,” Pritzker said. “They took a chance and invested in the metro-east. They have worked for years to build up that track and the opportunities it could bring to the area. This is an example of this coming to fruition for the area that will have benefits for years to come.”
This story was originally published June 3, 2022 at 5:00 AM with the headline "What does NASCAR Cup Series mean for metro-east? Pritzker sees economic windfall and more."