500 Festival Bringing Big Impact
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe road to the 100th Running of the Indianapolis 500 ramps up today with the official kickoff of the 500 Festival. Organizers expect more than 500,000 people to take part in over 50 events throughout the city. Chief Executive Officer Bob Bryant estimates this year’s festival will have an economic impact of more than $20 million. Highlights include this weekend’s Mini-Marathon and the 500 Festival Parade the day before the race.
Bryant says, since the festival’s founding in 1957, the event has generated an economic impact of more than $400 million. In addition to the 100th running of the race, this year marks the 60th running of the 500 Festival Parade and the 40th running of the 500 Festival Mini-Marathon. Proceeds from the events help support the organization’s free youth programming.
The events often draw non-racing fans, and Bryant says the festival works closely with race organizers to help them capitalize on that audience. He says the mini-marathon is prime example, bringing more than 30,000 people into Indianapolis Motor Speedway. "You can’t go there," he tells Inside INdiana Business, "even without cars running on the track, you can’t go there and not be intrigued by wanting to be a part of seeing the enormity of that facility and the history of that facility."
The 500 Festival will hold a kickoff event this afternoon at Monument Circle in downtown Indianapolis. It will begin with an IndyCar leading the Chevy Festival Cars to the circle, where players from Indy Eleven will kick soccer balls over them and into a goal. Indianapolis Mayor Joe Hogsett will also take part in this afternoon’s event.
Bryant says the festival puts the Indy 500 in front of “non-racing” audiences.