Tracking legal, legislative, and regulatory developments impacting the racing and performance industry.

PRI’s Washington, DC-based legal and advocacy teams work continuously to protect and support motorsports venues, sanctioning bodies, and businesses around the nation. We are tracking several initiatives this month, including new economic data regarding motorsports’ positive impact on both national and local economies, as well as information about how PRI Members can get in contact with a member of Congress. 

SEMA Report Finds Automotive Aftermarket Industry Provides Boost to National Economy

The “SEMA Economic Impact Report”—conducted by John Dunham & Associates and based on 2023 US economy data—has found that the automotive aftermarket industry supports more than 1.3 million American jobs, generating more than $104 billion worth of wages and benefits annually. It also accounts for more than $40 billion in taxes—including $24 billion in federal taxes and $16 billion in state and local taxes—which support the development of critical national and local infrastructure. In total, the study finds that the automotive aftermarket industry contributes more than $336 billion annually to the American economy.

“The Economic Impact Report reinforces the importance of the motorsports parts industry as one of the key drivers of the specialty automotive aftermarket,” said Eric Snyder, PRI Senior Director of Federal Government Affairs. “This report also confirms the industry is strong and growing in spite of macroeconomic factors that impact the US economy at large.”

Advocating for the Industry: PRI Will Help You Meet with Members of Congress

Whether in Washington, DC, or state capitals around the country, public policy battles are won by organized interests that have built relationships with lawmakers. 

Providing lawmakers with a tour of your business is one of the best ways to educate them on the things that matter most to your company. These visits help develop meaningful relationships with lawmakers, while also helping them better understand the motorsports industry so they can advocate for policies that defend and grow it. 

“It’s important that you know your lawmakers, but it’s even more important that they know you,” Snyder said. “PRI encourages motorsports parts businesses to host their lawmakers. These firsthand experiences are a great way to develop a meaningful relationship with your lawmakers and ensure they think of your business and the industry at large when making policy decisions that impact racing and the motorsports parts businesses.” 

If you would like to get to know your members of Congress, PRI staff can help. The first step in developing a relationship with your lawmakers is to introduce yourself and invite them to your business. PRI staff will draft an invitation, send it to your lawmakers, and manage the day-of logistics for the event. PRI also encourages you to attend the SEMA-PRI Washington Rally in Washington, DC, on May 8 and 9, 2024.

To host your member of Congress or for information on the 2024 Washington Rally, contact Tiffany Cipoletti in PRI’s government affairs office at tiffanyc@sema.org. 

IMS Economic Report Showcases Motorsports’ Significant Impact on Local Economies

Researchers at the Indiana University Public Policy Institute found that Indianapolis Motor Speedway (IMS) contributes $1.058 billion to the Indiana economy, with more than half that total—$566.4 million—attributed to the Month of May and the world-famous Indianapolis 500. The 2023 study addressed the direct and indirect economic contributions made by IMS between June 1, 2022, and May 31, 2023.

The last economic impact study was conducted in 2013 and determined that IMS generated more than $510 million annually to the Indiana economy at that time. Over the last decade, growth has been influenced by additional motorsports events and activities, as well as increased attendance at marquee events. The growth of race teams and motorsports-related businesses in the area also contributed to the increased impact.

“IMS’s growth over the last 10 years is remarkable and speaks to the strength of racing,” said Snyder. “Indiana University’s report shows that racing at the Brickyard has nearly doubled in the last decade. It’s important that other race tracks conduct economic reports to help provide a clear picture surrounding the strength of motorsports.”

The future of the motorsports industry depends on our ability to demonstrate the positive economic impact that racing provides to local economies. Economic reports, such as this one from IMS, are one of the most effective ways to convey that message and defend against efforts to close tracks.

“It’s valuable for race tracks to conduct economic impact reports, which help to demonstrate their importance to their local community,” said Snyder. “One of the best ways for race tracks to fend off efforts from the government to close down a race track is to educate local officials on why the track is vital to the area in terms of providing jobs and a sense of community.” 

For assistance with commissioning an economic report for your track or business, contact PRI’s Washington, DC, office at san@sema.org.