The track has a crowd capacity of more than 200,000 people, making it one of the largest sports venues in the United States, and delivers around $300 million a year to the North Texas economy, according to the track website.
Mark Faber, executive vice president and general manager of TMS, said nearly 300 events were held outdoors and indoors at the Fort Worth track in 2024.
The $300 million economic impact comes from taxes visitors and locals pay, including:
• A 6.25% sales and use tax
• A 6% state hotel tax
• Motor vehicle rental tax, which is 10% for first the 30 days
• A 6.7% mixed beverage tax
In addition, local cities can add taxes on the state’s number. Fort Worth residents passed a ballot issue in 2024 that raised the hotel occupancy tax to the max of 17%—6% to the state and 11% to the city. Roanoke hotels add 7% in addition to the state’s 6%.
“We are an economic engine with tourism,” Faber said during a Metroport Chamber Luncheon.
NASCAR hosted three events at the track between May 2-4, concluding with the Cup Series race, the Wurth 400.
A city of Fort Worth study in 2009 revealed the race track generated $2 billion in economic impact over the first 12 years.
The backstory
In 1994, Bruton Smith announced plans to bring a track to Texas and landed on a 1,500-acre tract of land in the Alliance area of Fort Worth. According to the TMS media guide, Smith received heavy interest from Fort Worth and Denton County to bring a track to that area over two other sites in consideration. Hillwood, a development company started by H. Ross Perot, owned the land that Smith picked to bring a track.
The city of Fort Worth passed a tax increment financing district, a public financing method used by cities and municipalities to fund economic development projects, in 1995. According to the city website, the TIF tax has a 40-year expiration date and helped pay for structural improvements and infrastructure within the reinvestment zone. The fiscal year 2024-25 TIF balance is $5.03 million, according to city documents.
Fort Worth and Denton County were part of the original TIF, and Northwest ISD joined in 1999, according to the city’s website.
Construction first started on TMS the summer of1994; office space and The Lone Star Tower Condominium Clubhouse followed, according to the TMS website. Through the years, TMS had added an in eld road course, a dirt track and Lil’ Texas Motor Speedway to provide racing year-round
What they’re saying
Faber remembers coming to the first race at TMS in 1997. There wasn’t much to do before or after the race, he said, recalling people parking in Roanoke and walking nearly 5 miles to the venue.
“With development nowadays, especially with new stadiums, it’s mixed-use,” he said. “When [Smith] built this, you had to think about if they’d come.”
Now the facility has an impact beyond NASCAR and hosts auctions, barbecue contests, truck shows, David Starr’s Racing School, dirt track racing and celebrity clay shooting, according to the speedway’s website.
”Visitors spending contributes to jobs and tax revenues in the region, enhancing Roanoke’s development and fostering community engagement,” Roanoke Mayor Scooter Gierisch said.
The impact
Buc-ee’s opened in 2016, according to the Texas Department of Licensing and Regulation, and Tanger Outlet Mall opened in 2017 across from TMS, the company website states. Bucee’s is expanding while stores are being built nearby, according to previous reporting.
“A lot of things happened that’s been part of our master plan, but a lot of things like Texas Motor Speedway that we would’ve never envisioned in the early days has added to the whole array of o fferings and has a lot to do with the growth,” Hillwood president Mike Berry said.
