The Preakness Stakes is a massive horse racing event that attracts thousands of visitors to Baltimore each year and has an economic impact of approximately $60 million on the state. Baltimore Racing Development has been looking at a variety of ways to increase that economic impact and has raised the suggestion of hosting an IndyCar Series in Baltimore in 2011. The research and investigation done by Baltimore Racing Development has shown that hosting such a large event in the state can have a positive outcome for the city and state wide economy.
The proposed event has already been given the name of the Baltimore Grand Prix, and negotiations and meetings have been held with representatives of the mayors’ office, as well as officials from the IndyCar Series, state officials and city officials. If Baltimore Racing Development succeeds with their proposal, the Baltimore Grand Prix will be fashioned in the same form as the IndyCar Series events that take the streets by storm in Long Beach California and in Toronto. And feasibility studies have been carried out to back up the claims by Baltimore Racing Development, that the Baltimore Grand Prix will generate more income than the Preakness Stakes.
According to the studies done, the Baltimore Grand Prix will bring an estimated hundred and fifty thousand visitors to Baltimore for the four days of the event. Based on these numbers, it can be calculated that approximately $100 million could be generated, taking in regard accommodation, ticket sales, meals and other purchases that are made by visitors. Those who have seen the course layout for Inner Harbor, looked over the studies and heard the positive arguments made by Baltimore Racing Development, have issued positive responses, but are still awaiting the noise level and traffic study results which are still being determined. There is a lot work that lies ahead of Baltimore Racing Developers and their supporters, but first, the officials of the various organizations will have to agree. If the green light is given on the Baltimore Grand Prix, it could soon bring fun, excitement and non-stop racing action to the streets of Baltimore.