Governor Terry McAuliffe today announced the award of a $150,000 grant from the Virginia Tourism Growth Fund (VTGF) to assist with the development of the Virginia is for Racing Lovers interactive welcome area as part of the new infield redevelopment at Richmond Raceway.
With the assistance of this grant, Richmond Raceway will be able to further develop a fan-focused interactive infield attraction that will provide guests with unparalleled access and hospitality experiences during events. The VTGF grant program, managed by the Virginia Tourism Corporation, was established to grow tourism development projects across the state.
“The development of this new dynamic infield attraction, as well as the Virginia is for Racing Lovers Fan Zone, are exciting additions to Richmond Raceway’s overall fan experience,” said Governor Terry McAuliffe, speaking at the announcement. “The racing industry, including NASCAR, is a multi-billion dollar industry that is largely focused on the visitor experience. Richmond Raceway’s decision to invest in providing a new state-of-the-art experience is a savvy and strategic approach to ensuring that Richmond Raceway offers one of the best racing experiences in the country.”
The announcement took place today at the TORQUE Club at the Richmond Raceway Complex. The Governor was joined by leadership from Henrico County, Richmond Raceway, and the International Speedway Corporation, as well as NASCAR driver and Virginia-native Elliott Sadler. The Governor also participated in the announcement of the track’s rebranding from “Richmond International Raceway” to “Richmond Raceway,” and helped to unveil the new logo, microsite, and social media platforms.
“Tourism is one of Virginia’s top economic engines and the racing sector is a key contributor to the industry,” said Secretary of Commerce and Trade Todd Haymore. “In the Richmond region alone, thousands of race fans pour in year after year, accounting for $467 million in economic activity. This supports more than 7,000 jobs and contributes $85 million in local, state, and federal taxes. The Richmond Raceway Reimagined, coupled with our other race tracks and racing assets across the state, is going to improve Virginia’s already sterling reputation as a premier destination for race fans and a major destination for NASCAR.”
The total capital investment for the infield redevelopment project, named Richmond Raceway Reimagined, is $30 million. The project will bring new attractions and enhanced amenities for fans, teams, sponsors, and other stakeholders to the historic Richmond infield. The modernized infield will launch over NASCAR playoff weekend on September 21-22, 2018. The new infield will feature:
- New Monster Energy NASCAR Cup Series garages with fan viewing walkway
- Fan viewing of inspection stations
- Expansive Richmond infield social and engagement areas with concessions
- Closer proximity of Gatorade® Victory Lane for fan view from the grandstands
- New opportunities for pre-race access, driver appearances, and entertainment programming
- 80-person club experience with roof access to overlook Gatorade® Victory Lane
- Two new garage suites with view into Monster Energy NASCAR Cup Series garages
- New Media Center with broadcast booths, a conference room, and hospitality space
- New vehicle crossover gate on the backstretch
- Relocated tram route delivering fans closer to the front door of the track
- New pedestrian tunnel
- 80 new consumer RV spaces
- Infield drainage improvements
“Virginia’s roots in NASCAR run deep, so we were proud to share the stage with Governor Terry McAuliffe for the momentous announcement of our infield redevelopment project, Richmond Raceway Reimagined,” said Dennis Bickmeier, Richmond Raceway President. “We appreciate the commitment to the future of motorsports by the Governor and the Virginia Tourism Growth Fund. We look forward to continuing to be a tourism and economic catalyst for the Commonwealth of Virginia.”
The racing industry, including NASCAR, is a growing and important sector of Virginia’s tourism economy. Tourism is an instant revenue generator in Virginia. In 2016, visitors to Virginia spent $24 billion, which supported 230,000 jobs and contributed $1.6 billion in state and local taxes
About the Virginia Tourism Growth Fund
The Virginia Tourism Growth Fund (VTGF) is a Virginia Tourism Corporation program established to grow tourism development projects to include new or expanded facilities or venues for lodging, recreation, entertainment, epicurean, cultural, or destination retail products or services designed to attract travelers to the Commonwealth. Both non-profit and for-profit private sector businesses are eligible to apply. VTGF grant awards cannot exceed 15 percent of project cost and there is a minimum one to one local match of VTGF grant award. The project must create net new jobs and public financing cannot exceed 30 percent of project cost.
About Richmond Raceway
Richmond Raceway is America’s Premier Short Track annually hosting two NASCAR race weekends, featuring the Monster Energy NASCAR Cup Series and NASCAR XFINITY Series, on a ¾-mile D-shaped oval. Richmond is a regional leader for events including sports, live music and consumer trade shows. The Richmond Raceway Complex’s 1,000 plus acre multipurpose facility hosts more than 200 live events annually including concerts with top national recording artists at The Classic Amphitheater. To learn more, visit richmondraceway.com andrichmondracewaycomplex.com.
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