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Iowa Governor Signs Knoxville Raceway Tax Break
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Iowa Gov. Terry Branstad signed a bill giving a state sales tax rebate of up to $2 million to the Knoxville Raceway in a ceremony at 11:30 a.m. Tuesday, May 13, at the track.
The bill was recently approved by the Iowa Legislature.
Raceway officials plan to use the tax rebate to help pay for a major expansion project at the facility, which is located at the Marion County Fairgrounds.
The track, billed as the "Sprint Car Capital of the World," has about 200,000 admissions annually from all 50 states and from as far away as Australia and New Zealand.
The bill was recently approved by the Iowa Legislature.
Raceway officials plan to use the tax rebate to help pay for a major expansion project at the facility, which is located at the Marion County Fairgrounds.
The track, billed as the "Sprint Car Capital of the World," has about 200,000 admissions annually from all 50 states and from as far away as Australia and New Zealand.
