However, it does not stop there.
Bristol Motor Speedway and Dragway host events year-round that also draw thousands of people to the area from all over the United States as well as internationally, resulting in a substantial amount of extra dollars for the area.
And the latest has come at a time when it is sorely needed, considering the state of the economy.
Over a 24-day period, beginning with the AMA Dragbike Summer Nationals, which took place June 20-22, going through this week's O'Reilly Auto Parts Junior Drag Racing League Eastern Conference Finals in Thunder Valley, the local economy will directly benefit to the tune of more than $4,589,581 million and $13,768,745 million indirectly.
"We at Bristol Motor Speedway and Dragway have known for some time the impact these events have on the region," said Jeff Byrd, president and general manager of the facility. "I guess you could say it was a well-kept secret. Not only do these events stimulate local and regional economy, they showcase the beauty of our area to folks from around the country and world. So in this time of uncertain conditions, which we are seeing in our industry as well, we wanted to try to make the region aware of what may be called 'minor' events compared to other things we do; but they are minor events with a major impact."
"We have events taking place at the Dragway on most weekends from April through September and we've started utilizing the Speedway throughout the summer with our Saturday Spectacular events that have become quite popular. We have fans and competitors coming in from all over the nation and quite a few from outside the country who love coming to Bristol. We truly appreciate them coming to support our events and by doing so they're supporting various businesses in the area which helps our local economy tremendously."
The two Junior Drag events alone will draw more approximately 800 competitors over a 10-day time frame from nearly 30 states, including Wisconsin, Iowa and Connecticut, and internationally as well with competitors from Canada, Ireland and Australia resulting in $2,899,650 going directly into the local economy with an indirect impact of $8,698,950.
The AMA Bike Summer Nationals, which took place for the first time at Bristol Dragway this year, drew nearly 400 racers from 25 states, including California and Montana, as well as Canada. The direct impact of that event on the local economy was $988,971, translating to an indirect impact of $2,966,915.
The Saturday Spectacular, held last Saturday night at Bristol Motor Speedway, drew in excess of 4,000 spectators, along with 50 competitors, impacted the local economy indirectly with $2,102,880 and directly with $700,960.
Combined with the two NASCAR weekends in the spring and August and the NHRA event, as well as Speedway in Lights and other events held at Bristol Motor Speedway and Dragway throughout the year, the direct economic events at the facility bring an estimated $450 million in direct economic impact and more than $1.9 billion in indirect stimulus to the region.