VIR has $237 million impact in Virginia
- May 30, 2018
VIRginia International Raceway (VIR) in Alton contributes $237 million to Virginia’s economy each year, according to a new study.
The study, commissioned by VIR and conducted by the Washington Economics Group, found that $197 million of the economic contributions occurred within the local region.
The raceway adds a total of 3,620 jobs to the state’s economy and generates $99 million in total household income. Regionally, VIR accounts for 3,543 jobs and $80 million in total household income.
According to the report, the raceway generates an estimated $53 million of economic activity in Halifax County, $45 million in Pittsylvania County and over $99 million in Danville. These economic impacts are primarily created by visitors from outside of the region, who often stay in the region for multiple days for events.
The study states that, “Approximately 270,000 visitors attend race and non-race events held at VIR each year with over 90 percent coming from outside the local region, and staying for multiple days within the local region.”
VIR is a multipurpose road course near Danville offering professional and amateur auto and motorcycle racing as well as track events. It also is a prominent testing facility for the automotive industry and includes onsite hotel and lodging options.