AURORA — When a NASCAR racetrack opened in Kansas City, Kan., eight years ago, it was the start of a development that would eventually bring in more than $240 million annually to the state and create $1 billion in ancillary development.
Now, 10 million visitors flock to the track and the shops, malls, restaurants and hotels surrounding it each year.
And there are plans for a new Hard Rock Hotel and Casino overlooking the track that would be the cherry on the top of what has become the state’s biggest attraction.
“We created a destination area,” said Jeff Boerger, president of the Kansas Speedway. “A lot of jobs and a lot of wealth are being created. We’re the ones who pioneered that.”
That is the type of economic impact two groups competing to build a racetrack east of Denver hope to create.
In May, Colorado Springs developer Bill Schuck and Oakwood Homes president Pat Hamill announced separately their desire to each build a motorsports track and complex on land in Aurora near Denver International Airport.
The competing proposals want to take advantage of the recently passed Colorado Regional Tourism Act that would allow developers to receive sales-tax revenue generated from new attractions to pay off bonds used for construction of the projects.
Wendy Mitchell, president and chief executive of the Aurora Economic Development Council, said a track and nearby commercial development would be a huge boon to the area.
“It’s something we don’t have here, and it’s demonstrated elsewhere that it brings in a lot of money from out of state with the right partner and the right user,” Mitchell recently told The Denver Post.
“It’s an incredibly lucrative thing for the state of Colorado.”
Hamill said he wants to spend $400 million on a speedway and stadium project that would also include up to 400 acres of related commercial development, including hotels, restaurants and shops.
He may have the inside track at this early stage, as his project has the support of the International Speedway Corp.’s Sprint Cup, NASCAR’s premier racing series.
“Without question, it’s been proven to have a huge economic impact at a lot of different venues around the country,” Hamill said.
Schuck also plans to build a racing complex with commercial developments surrounding it.
That would include other tourist attractions he said he is trying to get onboard. He said his project can be viable even without the support of ISC and NASCAR.
“This is not just a motor-sports venue,” Schuck said.
“We are working with a number of industry entities as we are looking at all aspects of motorsports and keeping them apprised of our activities and progress.”
Like in Kansas City, the Auto Club Speedway in Fontana, Calif., has been a driving force in the economy there, speedway spokesman David Talley said.
He said a race weekend typically nets between $200 million and $210 million to area coffers and benefits the entire greater Los Angeles area.
“It’s like the Super Bowl coming here once a year,” Talley said. “And it’s all new money, folks coming from out of town. We get people from all 50 states.”
The Kansas Speedway has been a project that keeps on giving, Boerger said. Businesses are locating to the surrounding area, including industries related to motor sports.
“We’re promoted on national TV and the exposure for our events are priceless,” Boerger said. “It continues to feed on itself and build on itself.”
Carlos Illescas: 303-954-1175 or cillescas@denverpost.com
