Driving development From the cover
The backstory
The details
TMS tidbits
1.5K acres Size of Texas Motor Speedway
27K acres AllianceTexas Development
In 1994, Bruton Smith announced plans to bring a track to Texas and landed on a 1,500-acre tract of land in the Alliance area of Fort Worth. According to the TMS media guide, Smith received heavy interest from Fort Worth and Denton County to bring a track to that area over two other sites in consideration. Hillwood, a development company started by H. Ross Perot, owned the land that Smith picked to bring a track. The city of Fort Worth passed a tax increment nancing district, a public nancing method used by cities and municipalities to fund economic development projects, in 1995. According to the city website, the TIF tax has a 40-year expiration date and helped pay for structural improvements and infrastructure within the reinvestment zone. The scal year 2024-25 TIF balance is $5.03 million, according to city documents. Fort Worth and Denton County were part of the original TIF, and Northwest ISD joined in 1999,
Once a piece of farmland at the northeast corner of I-35W and SH 114, Texas Motor Speedway celebrated its 30th anniversary of breaking ground April 11. The track has a crowd capacity of more than 200,000 people, making it one of the largest sports venues in the United States, and delivers around $300 million a year to the North Texas economy, according to the track website. Mark Faber, executive vice president and general manager of TMS, said nearly 300 events were held outdoors and indoors at the Fort Worth track in 2024. The $300 million economic impact comes from taxes visitors and locals pay, including: • A 6.25% sales and use tax • A 6% state hotel tax • Motor vehicle rental tax, which is 10% for irst the 30 days • A 6.7% mixed beverage tax In addition, local cities can add taxes on the state’s number. Fort Worth residents passed a ballot issue in 2024 that raised the hotel occupancy tax to the max of 17%—6% to the state and 11% to the city. Roanoke hotels add 7% in addition to the state’s 6%. “We are an economic engine with tourism,” Faber said. “Our race weekend is coming up, and we call it our Super Bowl.” NASCAR will host three events at the track between May 2-4, concluding with the Cup Series race, the Wurth 400. A city of Fort Worth study in 2009 revealed the race track generated $2 billion in economic impact over the rst 12 years.
4 AT&T Stadiums the venue where the Dallas Cowboys play, can t inside the speedway 14 countries with ticket sales for the only 2024 NASCAR Cup Series race 275 events held annually at Texas Motor Speedway
SOURCE: TEXAS MOTOR SPEEDWAY COMMUNITY IMPACT
according to the city’s website. Construction started on TMS the summer of 1994; o ce space and The Lone Star Tower Con- dominium Clubhouse followed, according to the TMS website. Through the years, TMS had added an in eld road course, a dirt track and Lil’ Texas Motor Speedway to provide racing year-round.
A closer look
Roanoke
Fort Worth
The city of Roanoke charges a 13% tax occupancy for visitors to hotels. The city of Fort Worth has a 17% charge on hotel stays. Those taxes generate money for each city's budget.
$177.36K
$1.59M
$200K $150K $100K
$2M
COVID-19
COVID-19
$1.5M
$1M
+51.16%
+102.13%
$50K
$0.5M
$0
$0
SOURCES: CITIES OF ROANOKE, FORT WORTH COMMUNITY IMPACT
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