Wilson County leaders said they believe the return of racing to the Nashville Superspeedway could bring an economic boost to the area in several ways.
NASCAR and Dover Motorsports, Inc., recently agreed to host a NASCAR Cup Series race at the superspeedway in June of 2021.
“We were energized to see how excited Nashville was to host the NASCAR Cup Series banquet last December,” said Denis McGlynn, president & CEO of Dover Motorsports, Inc. “When we built Nashville Superspeedway in 2001 our goal was to one day secure a NASCAR Cup Series race for the venue.”
Wilson County, which collects about $900,000 annually in property taxes on the Superspeedway property, could receive more as races return to the Gladeville venue.
“Potential tax revenue would come from ticket sales from the site, and from increase sales and tourist taxes on hotels and similar things due to the race and other events,” said G.C. Hixson, Wilson County Joint Economic and Community Development Board executive director.
Hixson and the Wilson County JECDB executive committee, which includes Wilson County city and county mayors, as well as John Bryan, Robert Rochelle and Phil Smartt, have recruited businesses to the site for several years.
“Depending upon how many and types of events, they may be able to bring in the revenue from other non-race events that could exceed that one weekend NASCAR race. Until we understand the number of events and attendances, it will be hard to estimate revenue,” Hixson said.
“The county receives a portion of the sales tax collected at the Speedway, which would include ticket sales. A portion of the sales collected is pledged to the (Wilson County Sports Authority) and the rest is placed into the Special Purpose Tax fund,” Wilson County Finance Director Aaron Maynard said. “The prevailing sentiment at the time the speedway opened was the that county and cities would benefit from hotel/motel tax, additional sales tax revenue at restaurants and shopping establishments, and the exposure of having races here.”
The 1.33-mile “D-oval” concrete track was built in 2001 by Dover Motorsports, Inc. and hosted NASCAR- and IRL-sanctioned events until it closed in August of 2011.
The property, which has about 1,250 acres in Wilson County and 150 acres in Rutherford County, played host to the NASCAR Xfinity Series, NASCAR Gander RV & Outdoors Truck Series, NTT INDYCAR SERIES and other racing series in its history.
In 1999, the Wilson County Sports Authority issued the bonds for the superspeedway.