Pennsylvania Governor Corbett Officially Kicks Off 2014 Pocono Raceway Season; Announces $5 million in Transportation Infrastructure Funds to Improve Traffic Flow at Raceway Total economic impact on regional income is projected to be $277 million in 2014.
HARRISBURG, Pa., March 10, 2014 /PRNewswire-USNewswire/ -- Governor Corbett today joined Pocono Raceway CEO Brandon Igdalsky, NASCAR and INDYCAR officials and state legislators to officially kickoff the 2014 Pocono Raceway Season and to announce the award of $5 million in Transportation Infrastructure Funds to widen roadways and improve traffic flow to and from the raceway.
"Today I am proud to stand with CEO Brandon Igdalsky, NASCAR and INDYCAR officials to kickoff the 2014 Pocono Raceway season; one of many world-class attractions that make Penn's Woods a top destination for tourists," Corbett said.
"Beyond the excitement of the races, Pocono Raceway undoubtedly supports thousands of jobs for our residents and delivers a significant economic boost to Northeast Pennsylvania."
According to an Economic Impact Analysis prepared by East Stroudsburg University, Pocono Raceway contributed an estimated $257.5 million to the income of Northeast Pennsylvania residents in 2013. The raceway also created approximately 2,752 new jobs, generated nearly $15 million of tax revenue for the Pennsylvania State Government and another $8 million of revenue for the local and federal governments.
The economic impact of the Raceway will probably be even greater in 2014 because of the expected increase in the number of facility users and the expansion of non-traditional activities utilizing the resources of Pocono Raceway more efficiently and more fully. The forecast for 2014 is that Pocono Raceway will generate $277 million of new income for the region and create 3,009 jobs.
"Millions of people throughout our country enjoy NASCAR and INDYCAR, and I am proud that Pennsylvania hosts one of the nation's great tracks: Pocono Raceway's 'Tricky Triangle,'" Corbett said. "Our partnership will ensure the excitement of Pocono Raceway is enjoyed by generations to come."
At the kickoff, Corbett announced the award of $5 million in Transportation Infrastructure Funds to make much needed improvements to the roads leading in to Pocono Raceway. The project includes the widening of Route 115 from Route 903 to the Pocono Raceway. The road will remain open to traffic throughout construction.
In business for over 50 years, the Pocono Raceway is family-owned and situated in the beautiful Pocono Mountains of Pennsylvania. Pocono Raceway's triangular design, known as "The Tricky Triangle," makes it truly unique. Pocono is America's only professional race circuit with three turns, three different radii and three variant degrees of banking.
For more information or to purchase tickets, please visit www.poconoraceway.com or call 1-800-RACEWAY.
For more information about Gov. Corbett, visit www.pa.gov.
Valerie Caras, Governor's Office; 717-783-1116
Steve Chizmar, Governor's Office; 717-783-1116
Steve Kratz, DCED; 717-783-1132
SOURCE Pennsylvania Office of the Governor