Budget Woes Could Delay Redevelopment Plans

(posted Jan 14)

A key component of Speedway's redevelopment project is facing a potential setback with Governors Daniels' call for a moratorium on capital project spending for higher education.

The redevelopment commission has been in discussion with IUPUI and Marian College to provide educational opportunities in the Speed Zone's racing campus. IUPUI's School of Engineering and Technology would offer racing engineer oriented classes. The proposed moratorium would only affect IUPUI, Marian is privately funded.

Neither the redevelopment commission nor its public relations firm have commented on recent workforce reduction announcements by the IMS and Allison, key beneficiaries of the redevelopment plans. NASCAR teams have reportedly laid off 700 team members since the end of the 2008 season. This year's Detroit Grand Prix was canceled due to Detroit's financial problems.

On January 13, Hirons and Company Executive Assistant Kayla Biggerstaff said that no news releases were created because Harris has his redevelopment column and meetings to talk about the issue.

Indianapolis Motor Speedway Executive Vice President of Communications Fred Nation said the IMS is still supportive of the redevelopment despite eliminating job positions because of the economic downturn. Nation did not state the number of people affected by the reduction because it is a private entity.

Nation said the IMS plans to build a hotel, and is seeking private investors for the venture because the company does not want to "be in the hotel business." He said the new hotel completion is not contingent upon the 2012 Super Bowl, but will wait for a better economic climate. The IMS is hosting the Super Bowl final party.

Allison Public Relations Director Eric Dickerson said “Allison is continuing to move forward with the petition to vacate a portion of Grande Avenue. We strongly believe in the three components that caused us to file the petition which are, "Security, Safety and Growth."

“It should be noted, we have not had a layoff. We have offered early retirements to a group of salaried and hourly employees who met certain qualifications. These programs have been strictly voluntary. Our long term investment plans for our products or facilities have not changed. The vacation of a portion of Grande Avenue is a component of our growth that we would like to see materialize.”