NASCAR track could bring big bucks, state told

An 83,000-seat NASCAR speedway in Kitsap County would create so much money, promoters say, that it would be enough to replace the Alaskan Way Viaduct.

That's what a Florida company that's hoping to build a NASCAR track in the state told state legislators Wednesday as it lobbied for support for a new speedway.

They said the proposed racetrack would provide $4 billion in economic benefits and would draw thousands of visitors to the state.

But opponents said building the track is risky and criticized International Speedway Corp. for expecting taxpayers to pay for half of the $345 million facility. And they argued that water runoff from the track would contaminate Hood Canal and Puget Sound.

Others also question the rosy financial picture that track supporters have painted. State Treasurer Mike Murphy and some other state officials have questioned an International Speedway-commissioned study that supports the funding plan.

But on Wednesday most of those who crowded into a Port of Seattle meeting room — from local lawmakers to labor, from tourism officials to racing fans — supported the track and the money it could bring to the state.

They argued that it would not mean a tax increase and would not create a new tax.

Attorney Gerry Johnson, representing the speedway group, said the track would be paid for with the additional sales taxes paid by visitors and a small admissions tax. He said the bonds would be issued by a new public speedway authority and wouldn't affect the state's debt capacity.

The Washington Legislature this year refused to introduce legislation to help pay for the Kitsap County track. International Speedway wasn't able to find a bill sponsor. A 2004 proposal to build a track in Snohomish County fell through after cost estimates skyrocketed. The company was back within a year with plans to build the track in Kitsap County.

Grant Lynch, senior vice president of Great Western Sports, an International Speedway subsidiary which proposes to pay $166 million, or 48 percent, of the track costs, said the company has given the state no deadline for making a decision on the speedway. But he hopes legislation will be introduced next year.

"We'll be disappointed if it doesn't move forward next year," Lynch said. "But if we thought it was a lost cause, we probably wouldn't invest a lot of money."

He said Wednesday's meeting, chaired by Lt. Gov. Brad Owen, "was for us to get our story out there and get people interested."

The legislators made no recommendation.

The speedway officials touted a 2004 report by Seattle-based consultant Berk & Associates that estimated fans visiting the Seattle area for a weekend of NASCAR would spend about $700 each. It found there would be a one-time benefit of $492 million in construction spending and more than $139 million annually in tourism spending — equaling $4 billion over 30 years.

John Saunders, executive vice president of the speedway, told legislators if a speedway is built in Kitsap County he would petition Nextel to hold one of its prestigious races there. He suggested a Nextel Cup alone is worth $100 million in economic return.

Susan Gilmore: 206-464-2054 or sgilmore@seattletimes.com