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Conference on economic impact of motor sports features CART and IRL racing's top executives
April 18, 2000
EDITORS: Arrangements have been made to accommodate reporters covering the conference. Please contact Tammy Orahood of GBIN at 812-855-5463 or torahood@indiana.edu; or George Vlahakis, IU manager of media relations, listed below.
BLOOMINGTON, Ind. -- Auto racing has been tremendously popular in Indiana and elsewhere for decades, but many may not realize how much of its impact on local economies goes beyond race day activities. The top executives of two of the leading motor sports circuits will join economists, public officials and others involved with automotive companies at a Tuesday (April 25) conference, "Racing for Global Profits: Global Opportunities and Local Impact of the Motor Sports Industry."
Conference speakers will include Anton H. "Tony" George, president and chief executive officer of the Indy Racing League (IRL) and the Indianapolis Motor Speedway, and Andrew Craig, chairman and CEO of Championship Auto Racing Teams (CART). An economic impact study of Formula One racing being introduced at Indianapolis on Sept. 24 also will be presented.
The conference is being presented by the Global Business Information Network (GBIN) in Indiana University's Kelley School of Business and also is sponsored by the Indiana Department of Commerce, the Forum for International Professional Services, the World Trade Club of Indiana, the International Center of Indianapolis, and Hirons and Co. It will begin at 9 a.m. at the Indianapolis Omni North Hotel, 8181 N. Shadeland Ave.
"Around the world, Indiana is synonymous with the automotive industry and motor sports events that draw the world's attention," said Lawrence S. Davidson, GBIN's director and IU professor of business economics and public policy. "'Racing for Profits' will feature racing industry experts who will explain how Indiana fits into a very rapidly growing global industry.
"It also will feature leaders in the fields of automotive manufacturing, innovative research, trade and tourism. These leaders will discuss how Indiana businesses and service providers will gain from global business and marketing opportunities associated with these initiatives," Davidson added.
Craig, the afternoon's keynote speaker, has said that auto racing is the second most popular sport worldwide after soccer, in terms of spectator attendance and television viewership.
George's keynote speech will open the conference, after a formal welcome, at 9:15 a.m. His presentation will be followed by a panel discussion, "Economic Impacts of Global Racing," which will feature Jean Fréchette, vice president, Investment Greater Montréal at Montréal International, Montréal, Canada; Catarina Cregor Blitzer, executive director, the International Center of Indianapolis; Rick Hughes, senior vice president, Indianapolis Convention and Visitors Association; and Davidson.
During the discussion, Davidson will present the findings of a Kelley School of Business study on the expected economic impact of Formula One racing, which will join the Indianapolis Motor Speedway's annual lineup later this year.
Steve Lewis, producer of the Performance Racing Industry Trade Show, will speak at lunch and be followed by the afternoon's keynote speaker, Craig.
The day's second panel discussion, "The Global Auto Industry: Views from Organizers, Racers and Partners," will begin at about 2:30 p.m. and feature Steve Fusek, vice president for racing operations, PacWest Racing Group; Steve Potter, supervisor of sports marketing services, Mercedes Benz; and John Elliott, manager, international strategic planning and business development, Inland Paper and Packaging Inc.
At 3:50 p.m., the third and final discussion will focus on manufacturing and service industry links to racing. Panelists will be Eric F.J. Lutz, manager, business development, Allison Transmission Division of General Motors; Steve Roby, director of product engineering, Borg Warner Turbo Systems; and Jon R. Potter, executive director of the Championship Drivers Association.
Conference registrants also are invited to attend a pre-conference reception at 6:30 p.m. the night before.
Conference participants will have access to information and resources to maximize their understanding of Indiana's stake in the automotive and motor sports industries. Registration, which costs $100, also includes the pre-conference reception, conference breaks and lunch. A special room rate has been made available for conference participants who wish to stay at the Omni North Hotel.
For more information or to make conference reservations, contact GBIN at 812-855-5463. Details also are available at the center's Web site at http://www.gbin.org
(George Vlahakis, 812-855-0846, gvlahaki@indiana.edu)