| Despite the support of Lt. Governor Brad Owen, bill sponsors Rep. Geoff Simpson (D-47) and Sen. Brian Hatfield (D-19), U.S. Congressmen Norm Dicks and Adam Smith, Bremerton Mayor Cary Bozeman, Kitsap County Commissioner Jan Angel, other community and political leaders, and tens of thousands of residents and fans, Great Western Sports (“GWS”) has decided to end its pursuit of a motorsports and multi-use recreational facility in Kitsap County. The project was estimated to generate nearly $4 billion in economic benefit to the state, creating thousands of jobs and providing a valuable community amenity.
“Unfortunately, it has recently become apparent that despite the significant revisions we have already made to the legislation, various constituents were proposing several additional modifications to the bill in order for it to proceed,” said GWS President Grant Lynch. “These additional changes to the legislation were unacceptable, and would have had a significant negative impact on our financial model for the speedway development. Therefore we have decided to no longer pursue the speedway development at the current location.
“I sincerely thank all of the government and community officials who had the vision to endorse our efforts. We also appreciate the support of the more than 35,000 residents and over 400 Peninsula businesses and civic organizations representing labor unions, Chambers of Commerce and Economic Development Associations that recognized the significant economic benefits of our project. Their hard work and steadfast commitment toward the effort has been immeasurable.
“Washington is a great state and home to some of the best motorsports fans I have ever encountered,” Lynch concluded. “As a company, we still believe the Northwest represents a significant opportunity for a speedway development and we remain interested in the region.”
Great Western Sports is a wholly-owned subsidiary of International Speedway Corporation, a leading promoter of motorsports activities in the United States, currently promoting more than 100 events annually as well as numerous other motorsports-related activities. |
