Italian Race Company, Dallara, to Open U.S. Base in Speedway, Ind.

SPEEDWAY, Ind.--The Speedway Redevelopment Commission (SRC) announced today that Italian-based racing company Dallara will expand its operations to Speedway, Ind. – the home of the Indianapolis 500®, Brickyard 400® and Red Bull Indianapolis GP®. This location will be the racing company’s only operation outside of Parma, Italy. The news follows the announcement that Dallara was recently selected by the Indy Racing League (IRL) as the chassis manufacturer for the 2012 IndyCar Series.

“Dallara has been a trusted, credible, stable and loyal partner of the Indy Racing League for the past 12 years. We are committed to the development of this new car by locating a dedicated facility near the Indianapolis Motor Speedway.”

“This announcement is in the spirit of Speedway’s redevelopment vision,�?? said Vince Noblet, SRC president. “We are pleased that Dallara has made a commitment to manufacture and assemble its new chassis for the 2012 IndyCar Series season in the United States, and specifically in Speedway. This is exactly what we’ve been waiting for.�??

The expansion will allow for the creation more than 80 new jobs in Speedway. Dallara will move into a new, state-of-the-art technology center located on Main Street, investing $7 million into the community.

"The new Dallara IndyCar will be built in Speedway, Ind., and it will set new standards in terms of safety, fuel efficiency, raceability, technology performance and cost containment,�?? said Gianpoalo Dallara, founder of Dallara Automobili. “Dallara has been a trusted, credible, stable and loyal partner of the Indy Racing League for the past 12 years. We are committed to the development of this new car by locating a dedicated facility near the Indianapolis Motor Speedway.�??

The IRL’s announcement will lead to future investments in Indiana’s motorsports industry, and will additionally bring new manufacturing, automotive technology development and IndyCar racing teams to the area. Dallara has stated that it will encourage its distributors and other businesses to also move into Speedway’s redevelopment area to continue to foster the growth of a vibrant, racing-centered community.

“Dallara is a high-profile, innovative racing company that will bring jobs and stimulate our local economy,�?? said Bill Suffel, president of the Speedway Town Council. “We believe Dallara is a great fit for our community due to our mutual dedication to the racing industry and advanced technology. We welcome Dallara to our community, and are happy it has committed to forming the foundation of a redeveloped Speedway.�??

About Speedway Redevelopment:

In November 2009, the SRC broke ground on Main Street, its first construction project. The $10 million Main Street project is the first milestone in the town’s Redevelopment Area One and is part of a $500 million investment to breathe new life into 400 acres of multi-use property that will be primed for commercial, shopping and entertainment, residential and research and development projects. Made possible through private and public investment, the redevelopment zone will be a vibrant, thriving and attractive downtown that will foster growth within the existing business community and encourage development of new business.

SRC consists of five volunteers appointed by the Speedway Town Council. Using input from the entire community, the commission is charged with developing a plan to revitalize a 700-acre area, including Speedway’s Main Street.