Motorsport and North Carolina economy

The total economic impact of the US motorsport industry on the state of North Carolina in 2003 was $5.1bn, according to a new economic impact and development study sponsored by the North Carolina Motorsports Association. The 30th largest of 481 industries ranked by the state, it generated 12,292 jobs through direct employment at an average salary of $70,548 (£39,412)

Motorsport and North Carolina economy

The North Carolina Motorsports Economic Impact & Development Study also found that, in 2003, the industry generated a total of 24,406 jobs in the state, at an average wage of $61,017. Motorsport contributed $1,489,175,042 in total employee compensation to the North Carolina economy.

Motorsport's direct impact on the state - the sales and revenue generated by the organisations that comprise the industry - was $3,190,279,409. The motorsport supplier chain, measured as indirect impact, contributed $1,104,941,429.

The NCMA is a non-profit trade association structured to be an effective representative of the industry in North Carolina. The study was performed to recognise motorsport's importance as an economic force, to establish the relative importance of the industry in terms of economic output and employment, and to suggest effective strategies to retain and grow the industry in the state.

"Those of us who are from North Carolina always knew motorsport was a big deal in this state," said NCMA chairman Richard Petty. "This study will show the rest of the country exactly how much an impact the industry has on this state. With the state losing such major industries as textiles and tobacco, it's good for North Carolinians to know that we still have a major home-grown industry to keep our economy going."

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