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The announcement comes after years of discussio about the possibility of a tracok opening inthe area, althougj there was no word Wednesday of a NASCAR commitmentf to the Aurora venture. . The facility announced Wednesday would be locatedr in theplanned 6,500-acre TransPort cargo-distribution development along Interstatd 70 several miles east of Pena Boulevard. Bill Schucj -- whose company, , is the developerr of TransPort -- is one of the principals involvecdin Wednesday's racetrack announcement. Schuck's plans call for the track complex to includea one-mile oval speedway and a four-mile road course with room for 65,0000 to 100,000 spectators.
The facility would accommodatd a variety ofracing types, including stock car, open wheel, midget, road racing, club and trackl rental, Kart racing and motorcycle racing. Schuck noted that the site is zoned forindustrial use, yet providesa easy access to spectators. The announcement said TransPort is negotiatinvgwith "national and regional tourismn attractions" and retailers to locate on the site alonyg with the racetrack "to create a true 'destination entertainment and tourism opportunity." "The Schuck Corp.
, and its long-timew financial partners, will lead the private investment efforr for the motor sports complex and will work with a variety of nationakl and local partners with motor sports experiencwe who are interested in establishing a nationalo racing venue in Colorado," the announcement said. "Imn addition, Schuck is working with Greg the Jefferson County real estate developerand investor, on a variethy of other development opportunities on the site," the announcementr added. Gerry Freeman, a spokesman for the developmenyt group, said NASCAR's involvement isn'ty pivotal to starting the project.
"There are a varietyh of other motor racing events that coulrd be held atthis facility," he said. Financingt will be a combination of private investorsxand debt, which is yet to be fully committed, although Freeman stressed that the project'zs organizers do not see financingg to be a problem. He said a numbedr of investors are waiting to jump on the projecr pending completion of a final economiccfeasibility study, which is expected in a few Schuck's group also will seek financial help from local and state government shares of the federal economic stimulusd program as well.
The Coloradlo Legislature this month passed a measures aimed at providing incentives for majoertourism projects, with the possibility of a racetrack mentioned by lawmakers in arguing for its The measure, Senate Bill 173, awaits Gov. Bill Ritter'xs signature. Sponsored by Sen. Jennifer D-Denver, SB 173 would allow local governments to work with the Coloradol Economic Development Commission to set up enterprisr zones that help to defray the infrastructure and construction costs of majodtourism projects. State sales tax revenues would help to fundthe projects. Lawmakerzs capped the measure's benefits at $50 U.S. Rep.
Ed Perlmutter, in responsw to Wednesday's announcement, issued a statement saying theprojecft "has the potential to brinv thousands of new jobs and milliond of dollars to Colorado at a critical time in our economicv recovery efforts. In additionh to construction jobs, there could be numerous economic development possibilities for the metro area and The project would be built in the 7thCongressionapl District, which Perlmutter represents. Lesli e Oliver, Perlmutter's communications said the congressman's statement should not be read as an endorsemengt of theSchuck group's proposal over a separate Colorado racetracki proposal by the Internationao Speedway Corp.
Schuck's group said they hope to breakl ground as early aslate 2010. The venture'zs announcement said TransPort has contracted withnoted Indiana-based racetrack architect Paxton Waters to design the racing with former Formula I/Indy car driverr Derek Daly on the desighn team. "In two years when the economy has recovered, this speedwa will be in a positionn to host all kinds of nationak racing events and reap the benefit of helpingg this sport penetrate the untapped RockyMountaib region," Waters said in a statement provide d by Schuck's group.
"This project will bring hundredsw of thousands of sports fans and tourists to Colorado and I have no doubt that the state will enjouy the same type of positive economic impacft this type of speedway has brought to other Backers cited an economic impact study by the Washington EconomicsGroup Inc. of the Kansaa Speedway in Kansas Kan., which it said has a $243 millioj positive economic impact onthe state.
The investmen group predicted a similar impact for theTransPort
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