Blog Articles

How the Indy 500 Changed Indianapolis

For more than 100 years, the Indy 500 has been drawing race fans to the Circle City. In that time, the race has been a major boon to the Indianapolis economy – today, the annual economic impact of all events at the Indianapolis Motor Speedway is more than $500 million.

The IMS has always been the town of Speedway’s claim to fame, but now, Speedway has even more to offer: A redeveloped Main Street with luxury apartments and retail spaces, along with outstanding restaurants. With these options available, race fans will have even more opportunities to contribute to the local economy.

Statewide Impact

As of 2016, the motorsports industry as a whole supported 421,000 jobs at 25,000 businesses in Indiana. Of those jobs, about 23,000 were directly attributed to Indiana racing businesses (such as racing teams and track operations).

In 2008, Indiana University Purdue University-Indianapolis became the first school in the United States to offer a bachelor’s of science in motorsports engineering, preparing graduates for careers at the Dallara IndyCar factory, Ed Carpenter Racing, and other employers in the state.

Events in the Month of May

Since its beginning in 1957, the 500 Festival and parade has produced an estimated $400 million in economic benefit for Indianapolis. While most festival events are free, attendees spend a lot of money on hotel rooms, at restaurants, and at retail establishments.

The festival’s mini-marathon is one of the largest half-marathons in the country, with about 30,000 participants every year. The entry fee for the race helps support the 500 Festival’s free youth programs.

A Nod to the Indy 500

The Wilshaw – a community of luxury apartments in Speedway – is named in honor of the three-time Indy 500 champion and former IMS president Wilbur Shaw. Our floor plans are named for IMS founding partners Carl G. Fisher, James Allison, Arthur Newby, and Frank Wheeler. We’re new here, and we want to respect the people whose vision made Speedway a racing mecca.

Our chic, modern apartments on Main Street are leasing quickly – if you want to be where the action is and live in a thriving and energetic community, call us now: (317) 342-9445.

Share on
Apr 24

$750 in Visa gift cards and

50% off app and admin fees!

Schedule your tour today!