Washington/Oregon Track News
Proposed Washington/Oregon NASCAR Track
July 18, 2006
MBA promotes Bremerton ISC proposed Speedway: The Master Builders Association (MBA) of Pierce County has endorsed the proposed NASCAR racetrack in the Bremerton area, according to a statement released today. “The economic benefit that will be enjoyed by both Kitsap and Pierce Counties from the racetrack and associated business growth is great,” stated MBA President Todd Lord. “Pierce County will also enjoy the synergy between the LeMay car museum and the racetrack -- the sum could be greater than the parts.” The MBA of Pierce County is a non-profit trade association comprised of more than 950 builder and associate member companies employing over 10,000 people in Pierce County. (Daily Index)
July 8, 2006
Earliest possible NW & NYC race 2011: International Speedway Corp. Chief Operating Officer John Saunders said Thursday that the earliest a track could open in New York City or Seattle likely will be 2011. Talking with financial analysts to discuss the company's earnings, Saunders said the slow-moving process in trying to get the political backing necessary to earn governmental approvals have delayed the projects. (SceneDaily)
June 30, 2006
B. France says, WA. and NYC has yet to realize impact of sport: "This is the most undercovered sport in the country," France said. "Week in and week out until the fall, we're usually the largest sporting event in the country. You just wouldn't know it by looking at a lot of media outlets. "We're really going to look at ways to get this sport the proper coverage and to change some hearts and minds." (NASCAR)
June 23, 2006:
Earnhardt, Jr. thinks NASCAR can race in WA., and even South America?
June 1, 2006:
ISC proposal to WA. Legislators went favorable for Speedway: A pair of South Sound congressmen have added their support to a Florida company’s proposal to build the Northwest’s first NASCAR speedway. Rep. Adam Smith, D-Tacoma, told a group of state lawmakers Wednesday that he and Rep. Norm Dicks, D-Belfair, would push for federal money to help pay for transportation and other improvements associated with the possible $345 million track in rural Kitsap County. Smith said the proposal from International Speedway Corp. could finally provide the region with a major sports tourism draw somewhere other than King County. And more importantly, he said, it would generate more out-of-state tourism dollars than Safeco Field, Qwest Field or any other sports venue in the state. “It could really help us grow in the South Sound region,” Smith said during a meeting with legislators at the Port of Seattle headquarters. ISC representatives and local officials, including Pierce County Executive John Ladenburg, spoke about the benefits a racetrack could bring to Washington. The legislative economic development committee didn’t indicate if it will make a recommendation to the rest of the Legislature anytime soon. As for Smith, he said ISC hasn’t approached him about any federal funding for road expansion. The company has said it could require some $10 million in improvements. ISC has proven it can be a major draw in other states, he said. “We want to see that happen here, and we think this is the way to do it,” he said. (News Tribune)
May 27, 2006;
Bremerton forms task force to study speedway: Bremerton's mayor is creating a local task force to explore how a proposed $345 million NASCAR racetrack could be used on non-race weekends for sports fields and other community purposes. "I believe it is essential that this project provides places that our community's youth, students, families and civic organizations benefit from using year-round," Mayor Cary Bozeman said. International Speedway Corp. is gearing up for another shot at persuading the Legislature to dedicate $166 million in future sales tax revenue toward building a racetrack on the Kitsap Peninsula. (Seattle Times)
May 20, 2006:
Survey says, bring NASCAR to Oregon: If it were up to the majority of the respondents in last week's Business Pulse survey, we would soon be hearing "Gentlemen (and Ladies) start your engines." We asked: "Should a Nascar track be sited in Oregon?" Your response: 61 percent said "Yes: Absolutely. It could be an economic driver." Thirty-one percent said "No: I don't like racing, and nobody would go." Two percent were undecided. (Comment and more at Portland Business Journal)
May 10, 2006:
ISC seeks zoning change in Kitsap: The company proposing to build a speedway in South Kitsap is asking county officials to include the racetrack site within the South Kitsap Industrial Area and to rezone the land to allow commercial projects. But the land-use application submitted by International Speedway Corp. doesn’t mean the company is dead set on building a speedway in Kitsap, no matter what state officials decide on the proposed public-private funding package. "I don’t think it changes the fact that we continue to want to hear positive things from elected officials from the state of Washington about the project," said Grant Lynch, ISC vice president. ISC wants to build a speedway that could host NASCAR races on 976 acres of property in South Kitsap adjacent to the Mason County line. The company’s $345 million financial proposal calls on the state to authorize the issuance of $166 million in bonds, which would be repaid out of sales taxes collected in Kitsap, Mason and Pierce counties. Another $13 million would come from taxes on race tickets. The company would put up $166 million of its own money, as well as cover any cost overruns. (Kitsap Sun)
April 11, 2006:
ISC to decide in coming months on Kitsap track plans: The company proposing a NASCAR racetrack in Kitsap County could decide in the next few months whether to drop out or continue. International Speedway Corporation Vice President Grant Lynch said it will reassess its chance of state support after a legislative work session on the speedway on May 31 in Olympia. The ISC has proposed building a racetrack near the Bremerton airport along Highway 3 between Gorst and Belfair. (KIRO 7)
Dec. 27, 2005:
NYC/Kitsap Track funding have some wondering: International Speedway Corp.'s open-wallet approach to building a NASCAR track on Staten Island isn't sitting too well in the Seattle area, where the developer wants the government to help fund a new track. ISC wants to build an 83,000-seat, $345 million track in Kitsap County, Wash., around 20 miles away from Seattle, and it's asking the state to fund half of that cost with bonds and admission fees. The motorsports giant doesn't think Washington compares with New York, but some Northwest track critics see ISC's plan to foot the entire $500 million-$600 million bill for its proposed Staten Island track and wonder why the developer can't do the same thing in Kitsap. The Seattle Times made a similar argument to Sheldon's in a Dec. 18 editorial urging lawmakers to dump the Kitsap proposal. "ISC has committed to paying all of the $600 million for a new track on Staten Island in New York. With the sport awash in fans, Fortune 500 sponsors and television revenues, backers should find a way to pay for all or most of the track here," the paper wrote. (Staten Island Advance)
Dec. 21, 2005:
NW track gains more support: Add the Silverdale Chamber of Commerce to the list of business groups supporting a plan to build a speedway in Kitsap County. The chamber issued a written endorsement Tuesday speculating that race fans would spend a lot of money locally, that the proposed financing package would not cost local taxpayers additional funds and that the facility could be used for other purposes. "We see the potential for use by the Scouts, youth groups, car clubs, camping groups, equestrians and more," Chamber board president Gene Straw said in a press release. "It will bring people into our area from all interest groups and allow us to showcase the best aspects of life in the Northwest." International Speedway Corp., through its wholly owned subsidiary Great Western Sports, proposes a $345 million NASCAR-style speedway on 950 acres near Bremerton National Airport. The Silverdale chamber's announcement continues a trend of business organizations that are offering support for the plan. The Bremerton, Port Orchard and Shelton chambers, the Kitsap Peninsula Visitor & Convention Bureau and the Kitsap Economic Development Council all offered earlier endorsements. (Kitsap Sun)
Nov. 30, 2005:
ISC announces Kitsap financial details: A Florida racetrack developer will ask Washington state taxpayers to pitch in 52 percent of the estimated $345 million cost to build a NASCAR speedway near Bremerton. International Speedway Corp. (ISC) Wednesday unveiled the financing proposal it will try to get lawmakers to agree to when the state Legislature convenes Jan. 9 in Olympia. Under the proposal, the state would borrow $166 million to help fund the track, ISC would pay $166 million and $13 million would come from a Kitsap County admissions tax on speedway tickets. The plan immediately drew skepticism from Margarita Prentice, chairwoman of the Senate Ways and Means Committee, and the state Treasurer Mike Murphy. Murphy has earlier said numbers ISC is using to calculate the track's economic benefits are "hokey." But ISC projections show the state general fund would pay nothing and reap $43 million after 25 years because of the additional tax money the track would bring in. (Seattle Times) More Official Release: International Speedway Corporation announced today that its subsidiary, Great Western Sports Inc. has released its financing proposal for a $345 million motorsports facility in Kitsap County, Washington, approximately 20 miles outside downtown Seattle. The financing plan proposes a public-private partnership where GWS will pay $166 million, or nearly half of project costs, plus any construction cost overruns and costs related to the regular maintenance and operation of the facility. Kitsap, Pierce and Mason Counties will form a tri-county Public Speedway Authority (PSA), and will issue bonds to help finance construction of the track. The bonds will be repaid through a sales tax credit issued by the state to the PSA, and from a local tax on the facility. "The financing proposal is a major step forward in our efforts to develop a premier motorsports facility in the Seattle area," said Lesa France Kennedy, President of ISC. "This significant investment demonstrates our commitment to bring motorsports entertainment to this underserved market. We believe our proposal represents a win/win opportunity for all parties involved, including the local communities which stand to benefit from the economic gains associated with our project. We will continue with our project due diligence, including the introduction of necessary state legislation early next year, and we remain optimistic that we will be racing in Washington in 2010." GWS plans to introduce state legislation to create the PSA and authorize the issuance of general obligation bonds to help finance the project. The Washington Legislature convenes in January and concludes in March 2006. (ISC PR)
Kitsap Track Press Conference: Great Western Sports will hold a news conference today to announce its proposal for financing the construction of a motorsports track in Kitsap County. The conference is planned for 3:15 p.m. at Kitsap Conference Center in Bremerton. Grant Lynch, project lead for the NASCAR track, and other representatives will be on hand to discuss the proposal that will be presented over the next few weeks to local and state elected officials. For details of the proposal, see www.kitsapsun.com this afternoon.
Oct. 31, 2005:
Businesses want NASCAR NW track: Businesses in Bremerton are overwhelmingly in favor of the early proposal of International Speedway Corp. to build a NASCAR facility in Kitsap County, according the Bremerton Area Chamber of Commerce. The chamber's board endorsed the proposal after conducting a Web-based survey of its members. "The vast majority believed that ISC was a good fit for our community and also wanted the Chamber to support this proposal," said Diane Robinson, president of the chamber and owner of Elandan Gardens. "It was clearly a mandate from our members." The chamber said the benefit of $10 million to $20 million in annual tax revenue would be beneficial to the community. (Seattle Biz Journal)
Oct. 28, 2005:
Tourism Bureau supports speedway: Acknowledging the tourism benefits of NASCAR, Kitsap Peninsula Visitor and Convention Bureau became the first organization to officially endorse a plan to build a major motor speedway in South Kitsap. Given the information currently available, there is no question that the tourism industry will benefit from the track, which International Speedway Corp. proposes to build with public and private dollars, said Shawn Cucciardi, the bureau's board president. The board surveyed its 262 business members about their views on the track and proceeded to address the concerns raised by some members, Cucciardi said. Concerns included increased traffic, potential crime and funding limitations. The group contacted community leaders where other tracks have been built for their viewpoints. "It was truly overwhelming to me to see how easy it was for other communities to say, 'I know you want to do due diligence on this, but jump on this opportunity,'" he said. The track, proposed on 950 acres south of Bremerton National Airport, could bring in $100 million in tourist dollars for each race, he said. Two major races a year have been proposed. ISC intends to ask the Legislature for a portion of the state's sales tax revenue to fund about half of the estimated $330 million track. (Kitsap Sun)
Oct. 24, 2005:
Public funding for NW track not likely if bill passes: Public funding for a NASCAR track in South Kitsap won't happen should voters approve Initiative 912 and repeal the gas tax, some state lawmakers say, leaving track organizers to foot the bill themselves. Legislators claim the state wouldn't have the money and South Kitsap wouldn't have the traffic capacity for the track should 912 pass. "If 912 passes, there'll be no NASCAR track," said State Sen. Bob Oke, R-Port Orchard. "There'll be no funds from the Legislature. We won't even take (the issue) up." International Speedway Corp., which owns 12 racetracks across the country, wants to add a 13th near Bremerton National Airport on 950 acres by 2010. The ISC plans to ask the Legislature in January for a portion of the state's sales tax revenue to fund about half of the estimated $330 million track. ISC's rationale for going to the Legislature is that the track is forecast to generate $139.5 million in revenues per year, according to a recent study by Berk and Associates of Seattle. But roads around the proposed track just won't be capable of handling the traffic generated by an 81,500-capacity stadium, said state Rep. Sherry Appleton, D-Poulsbo. "Those people who want NASCAR should be voting against (912)," Appleton said. "If the highway's not improved, (the track) won't be a consideration. We wouldn't have the capacity." ISC officials are trying to avoid the debate. "We don't have an official opinion," said Rich Johnson, marketing consultant for Great Western Sports, who is overseeing the track's development. "We're trying to keep the two issues separate." (Kitsap Sun)
Oct. 22, 2005:
Tribe seeks to build tribal casino near proposed NASCAR Speedway: The Skokomish Indian Tribe wants to build a casino next to the NASCAR racetrack proposed for South Kitsap. On Friday, the Washington State Gambling Commission received the Shelton-based tribe's formal written request to renegotiate its gaming compact with the state to expand the level of gambling at multiple sites, "including an off-reservation site on or adjacent to the proposed NASCAR track on the Mason-Kitsap County line." The letter was sent by Gordon James, Skokomish Tribal Council chairman. Neither James nor tribal manager Larry Goodrow could be reached Friday night for comment on details of the tribe's plans. Such an enterprise would be located far from the Skokomish reservation on Hood Canal, north of Shelton. The tribe already operates the small Lucky Dog Casino south of Hoodsport on Highway 101. Grant Lynch, vice president of International Speedway Corp., who is managing siting of the NASCAR track, said his group has had conversations with all three tribes in the region, but it's not involved with the Skokomish casino proposal. "We've never talked about a casino on our property," he said. "We've always said that when one of these (tracks) is built in an area, people will look to do other things." Lynch confirmed that the Cowlitz Tribe in Cowlitz County had pursued a similar plan for awhile when ISC was considering locating a track in the area. David Overton of Overton & Associates, which owns the land where the proposed NASCAR track would be located, could not be reached for comment Friday night. Two of the three Kitsap County commissioners, who have been taking heat from opponents to the NASCAR proposal, also could not be reached. Commissioner Chris Endresen, who represents North Kitsap, said she was stunned to hear about the casino proposal. "I'm not a fan of gambling, but I respect and support Native American treaty rights on the reservation," she said. "I don't think I would support an off-reservation casino." There are a lot of hoops to jump through to get approval for an off-reservation casino, said Leonard Forsman, Suquamish Tribe chairman. His tribe has not considered such a move, but doesn't rule it out for the future. "We're pretty much concentrating on the new hotel right now, but we're always looking for opportunities to expand," Forsman said. (Kitsap Sun) In reader comments most support tribal gaming, so as long as taxes are collected from tribal enterprises. Under some tribal compacts, tribes negotiate to contribute 25% of revenue back to states, in return becoming the largest single source of taxation for states example CT. gaming compact with two casinos.
Kitsap Count hires N.W. track lobbyist: Recently, the (Kitsap) county commissioners chose to hire a lobbyist. Through 2007, the county will pay as much as $108,000 to Sharon Wylie, a Vancouver, Wash., lobbyist who is also representing Clark County. Wylie will lobby the state Legislature and spend as much as 20 hours per year lobbying on the federal level. The decision to hire Wylie was made by commissioners Chris Endresen and Patty Lent. Lent said commissioners considered hiring a lobbyist for a couple of years so that someone could represent the county when local officials couldn't visit Olympia. Endresen explained a lobbyist could better represent Kitsap's unique issues. As an example, she said that Kitsap is one of the few counties with a major commercial area — Silverdale — outside its incorporated areas. In an Oct. 11 article, Endresen was quoted saying the lobbyist will be expected to, "maintain a proactive effort to develop legislative ideas." Never mind that the word, "proactive" should be banned eternally from the English language, Endresen's words flitted about the likely real job of this lobbyist. I suspect this lobbyist's hiring was instigated by one recent development in the county. I'll give you a one-word hint: NASCAR. (Kitsap Sun)
Sep. 20, 2005:
More on NW. Track, ISC and more: The company pushing for a Kitsap County NASCAR racetrack would pay the largest private portion ever for a professional sports stadium in Washington, an executive said Monday. International Speedway Corp. based in Daytona, Fla., is proposing the new track, which would seat 81,500 and cost more than $300 million. The facility would be publicly owned and leased to an ISC subsidiary. Grant Lynch, an ISC vice president, said the company has not settled the details of a public-private financing package. But he said the company would shoulder a larger share of the costs than previous private partners have on new sports venues in Washington. Supporters also say the money the track generates could support much of the public financing needed to build it and improve the surrounding infrastructure. A recent study by Seattle consultants Berk and Associates pegs the proposed track's value to Washington's economy at nearly $140 million per year, assuming two major sold-out races and a smaller regional event. The ISC contributed about 30 percent of the cost of its new racetrack in Kansas City, Kan., Lynch said, and probably would kick in more for the proposed track south of Bremerton. Lynch said he's confident the financing plan will appeal to elected officials once they sit down to negotiate the possible public portion. (Kitsap Sun)
Sep. 19, 2005:
NW track a tough sell: In its continuing campaign to win public support for a NASCAR track near Bremerton, Florida-based International Speedway Corp. said yesterday a track would generate nearly $140 million in new revenue annually to the state. The estimate, which is millions more than a similar study done by the same group last year, was immediately panned by state Treasurer Mike Murphy, who called the numbers "hokey." "They've got a long, long way to go to show me some numbers that are within reasonable, rational thought," said Murphy, who in the past has opposed spending public money on a track. The International Speedway Corp. (ISC) presented its study, done by Berk & Associates, to a state House committee meeting yesterday. A 2004 Berk & Associates study paid for by a group of businesses and economic-development leaders estimated a track somewhere in the region would bring in between $85 million and $120 million in new revenue annually. The new study used more specific information about the design of the Kitsap track and new data on how much fans spend when they're at NASCAR races, said Michael Hodgins, of Berk & Associates. (Seattle Times)
Aug 31, 2005
Business leaders are waiting on more NASCAR track details: Despite limited details, at least one Kitsap County businessman already is sold on International Speedway Corp.'s proposal to locate an 80,000-seat speedway near Bremerton National Airport. "This is damn good for Kitsap County, and we need to make this happen," said Rick Flaherty, president of Leader International, who hosted a luncheon Tuesday at the Red Lion Hotel Silverdale focusing on possible economic impacts of a NASCAR racetrack. Flaherty touted the new business growth and development the proposed $250 million project could attract locally. However, many of the 200 business leaders in attendance weren't as enthusiastic. Most said they came to learn more about what the specific economic impacts might be. They'll have to wait a little while longer — specifically, about a month. ISC Vice President Grant Lynch said an economic impact study expected to be available in mid-August was delayed because more work was needed. Now, the study is expected to be released by the end of September. (Kitsap Sun)
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