The Indy 500 is a sell-out and that’s good for state’s economy

INDIANAPOLIS — For the first time in years, the Indy 500 is sold out.

Indianapolis Motor Speedway leadership made the announcement on the steps of the Statehouse alongside Indianapolis Mayor Joe Hogsett and Indiana Gov. Mike Pence Friday (May 6).

 

The Borg-Warner trophy stands outside the Statehouse Friday as Indianapolis Motor Speedway officials announce the 2016 Indy 500 is a sell-out. This year is the 100th running of the race. Photo by Rachel Hoffmeyer, The StatehouseFile.com

The Borg-Warner trophy stands outside the Statehouse Friday as Indianapolis Motor Speedway officials announce the 2016 Indy 500 is a sell-out. This year is the 100th running of the race. Photo by Rachel Hoffmeyer, The StatehouseFile.com

Indianapolis Motor Speedway President Doug Boles announces the 100th running of the Indy 500 is sold out. Senior Vice President of Events for Hulman Motorsports Allison Melangton, Indianapolis Mayor Joe Hogsett and Gov. Mike Pence joined the announcment on the steps of the Statehouse Friday. Photo by Rachel Hoffmeyer, TheStatehouseFile.com

Indianapolis Motor Speedway President Doug Boles announces the 100th running of the Indy 500 is sold out. Senior Vice President of Events for Hulman Motorsports Allison Melangton, Indianapolis Mayor Joe Hogsett and Gov. Mike Pence joined the announcment on the steps of the Statehouse Friday. Photo by Rachel Hoffmeyer, TheStatehouseFile.com

“When people ask ‘What’s the race going to be like this year?’ I tell them, if you remember the late 80s and the early 90s, the spectacle that was the Indianapolis 500, the 100th running will be the spectacle that is the Indianapolis 500,” said IMS President, Doug Boles.

Hogsett said the amount of visitors coming for the race will benefit the state’s economy.

“When people come to this city, and they are in droves for this great race, they spend money,” said Hogsett.

“I’m talking about money that is spent in our local businesses, that’s a good thing,” he said. “Money staying right here.”

Allison Melangton, senior vice president of events for the Hulman Motorsports, said businesses in Indiana are already benefiting. According to Melangton, Visit Indy has reported 33,000 hotels rooms in the region were sold by March 15. Due to the high demand, hotels are charging a 20 percent higher room rate. Because of the demand, visitors are being placed in Bloomington, Muncie, Anderson and Terre Haute.

“The airport is reporting that corporate and general aviation reservations for the airport on race weekend are significantly up from anything they’ve seen in recent years,” said Melangton.

Even though all reserved seating for the 100th running of the Indy 500 is sold out, Boles said general admission tickets are still available. Even if you have a reserved seat, Boles recommends fans arrive at the track early to find parking because that is sold out, too.

“With a record crowd, with a strong field of competitors, with a renovated motor speedway, I’m confident the 100th running of the Indianapolis 500 will go down as a classic,” said Pence.

 

Article writer Jasmine Otam is a reporter for TheStatehouseFile.com, a news website powered by Franklin College journalism students.