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WEG Economic Impact Study Featured in the Miami Herald
December 20, 2007 - By Miami Herald Staff Report
Speedway a Financial boon for South Florida
The Washington Economics Group, led by former U.S. Undersecretary of Commerce for Economic Affairs, J. Antonio Villamil, conducted the study during a 10-month period. The group used a model that analyzed both the direct and indirect statewide economic benefits.
The Homestead-Miami Speedway generates an annual overall economic impact of $248 million to South Florida, with the track now being used more than two thirds of the year, according to a report released this week.
The study found that events at the Speedway generate 423,000 out-of-town visitor days per year and create more than 3,800 jobs annually.
The Speedway has generated more than $18 million in annual state and local tax revenue.
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