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NASCAR track nears a flag.
Byline: Brent Champaco
Apr. 13--A Florida company's push to build an 84,000-seat NASCAR speedway in Kitsap County could end if state lawmakers don't appear eager to help finance the project.
That's according to Grant Lynch, vice president of International Speedway Corp., who's planning a meeting with lawmakers May 31 to discuss the $345 million speedway. The company is asking the state to pay almost half of the cost, and the money would be recouped via sales tax revenue the track is expected to generate.
On paper, the speedway is expected to show a profit and put revenue into the state's general fund every year. A consultant last year estimated the project could inject $140 million annually into the state's economy, assuming it hosts two major race weekends and a smaller regional event each year.
More than $20 million would be spent in Pierce County.
But sports-related financing has been hard to come by lately in Washington, where some wary taxpayers still resent deals to build stadiums for the Mariners and the Seahawks in Seattle. This year, the Legislature rejected a $220 million push by the Seattle Supersonics to expand KeyArena.
ISC officials said they weren't trying to sell their plan this year, which is more of a courtship period with lawmakers.
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