Frost Motorsports Market Analysis Results Give Hampton, Virginia The 'Green Light' to Pursue Title as the 'Motorsports Technology Capital of North America'

Locality Will Build on Virginia's Racing Tradition And Target Rapidly Growing Industry

HAMPTON, Va., March 25 -- According to the final market analysis results of the Frost Motorsports Impact Study, Hampton has tremendous technology capabilities that would make it a "one-stop location" for engineering technology and testing needs applicable to the motorsports industry. The study also cites that there is no other location in the world that would offer this total concentration of resources. Hence, claiming the title as the "Motorsports Technology Capital of North America" is not far off based on the study's recommendation to add a test/race track facility and a specialized research and development park targeting this industry. "Hampton feels that it can successfully tap into the growing performance engineering market estimated at $5 billion that is increasing rapidly," said Ray White, Director of Hampton Economic Development. Trends indicate that this market is showing the fastest growth and forecasted to increase by 60% within the next five years. Source: 2002 Motorsports Research Association Overview prepared for the Motorsports Industry Association.

In the study, the Langley Full Scale Tunnel (LFST) is identified as the primary indicator that could enable this commercial venture to come to fruition. Managed by Old Dominion University's College of Engineering and Technology, the tunnel has been attracting NASCAR and other racing teams at record-breaking numbers for aerodynamic testing, starting around the mid- 1990s. As a commercial testing facility, the tunnel offers reasonable pricing structure, excellent data correlation, large test sections and a central East Coast location. Open-wheel cars, NASCAR trucks and dragsters have also tested at the tunnel. By tapping into the motorsports industry, the LFST has been able to generate surplus revenue and operate in the black while achieving its goal to reopen an important technology asset and provide "real-world" learning experiences for Old Dominion University graduate students.

Aerodynamic testing currently performed at the facility on race cars goes a long way to achieving a desired end result of "faster and safer" automobiles. One example of racing teams utilizing the tunnel is Riley and Scott Racing, LLC., which developed a safety anti-liftoff airfoil device designed to limit or prevent liftoff when cars turn around at high speed at the tunnel facility. Bob Riley, the inventor of the new concept, gives credit to the Langley Full Scale Tunnel, which assisted with the development of this new technology.

Building upon the synergy between aerospace and motorsports, NASA Langley Research Center, a world-class internationally acclaimed research facility, offers technology easily adaptable to the high-performance automotive industry. Currently, NASA is developing a coating and "soft wall" product that could significantly address safety concerns for airplanes and race cars. The products of NASA have been widely applied to the design and manufacture of automobiles, ships, submarines and spacecraft. Add Hampton's central location and overall assets from skilled workforce, regional automotive and transportation base, and development opportunities to university and college facilities and a cluster of resources exists second to none in the nation. "Besides the Charlotte, North Carolina and Indianapolis, Indiana metropolitan areas, there is no other area in North America that has a strong cluster of companies and resources that meet the overall needs of the high-performance automotive industry," said Timothy Frost, Frost Motorsports, LLC. "Knowledge generation, knowledge intensive firms, innovation, technology transfer, diversification and specialization are central to the motorsports industry."

Motorsports Research and Development Park

In addition to sponsors and fans, manufacturers, suppliers, race teams and research & development entities make up a large component of the motorsports industry. According to the Motorsports Research Association, the U.S. motorsports market shows a value of $16.54 billion. The total is allocated between the high-performance automotive industry at $11.45 billion and performance engineering at $5 billion.

Hampton wants to promote the potential economic savings of having $4 billion in hard assets and technology transfer opportunities in one location to the motorsports industry. Interested companies would join an established automotive base in the Hampton and the surrounding region consisting of Ford Motor Company, Siemens Automotive, Valeo, Schaevitz Sensors, Orbital Engine Corporation, ITW Southland and numerous other companies. In the U.S., there are approximately 24,000 businesses and 120,000 employees currently working in the industry. Per capita, Hampton and the region boasts the highest concentration of scientists, engineers and technicians, second only to the Silicon Valley. Racing teams and motorsports related companies can tap into a labor pool that is prepared for the task at hand.

Motorsports Test/Race Track Component

While most of the work for testing race cars can be carried out in a scientific environment such as the Langley Full Scale Tunnel, there is no substitute for testing a car on the track. A large number of motorsports facilities, used primarily for racing events but also suited for testing, offer variety and versatility for racing. In the U.S., there are 1,372 tracks consisting of 75% oval tracks, 21% drag strips and 4.4% road courses. Time in a car helps driver confidence and highlights areas such as durability, which are impossible or expensive to reproduce. None offer the unique combination and potential of Hampton's concentration of resources such as technological assets, labor force, central location and college/university systems -- a test/race track would provide the ultimate total package.

About the Hampton Motorsports Technology Alliance

To proactively address the need of one of the fastest growing industries in the country, Hampton has created the Hampton Motorsports Technology Alliance. The City of Hampton, Department of Economic Development, NASA Langley Research Center's Office of Technology Commercialization, Old Dominion University's Langley Full Scale Tunnel and the Peninsula Alliance for Economic Development established a partnership to promote Hampton and the region's expertise and technology assets to the high-performance automotive industry. The HMTA has been well-received and interest is high regarding this initiative. Negotiations with several companies are underway. With the recent results from the Frost Motorsports Impact Study and established assets, Hampton is well on the way to building and quantifying its reputation as the "Motorsports Technology Capital of North America."