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Phoenix International Raceway To Get Private Cash

The owners of Phoenix International Raceway recently said they’ll spend their own cash to redevelop the 52-year-old facility located in the southwest Valley.

phoenix international raceway

The announcement comes at the end of a year when Arizona’s professional baseball and hockey teams have said they want the public to invest as much as $387 million in sports venues.

The money came from fees paid by developers and also went toward extending infrastructure to the southern part of the city, said Jeff Fairman, who works for Avondale’s economic development department.

“They don’t say to us, ‘We’re going to move if you don’t give us X number of dollars,’ or ‘We need this much money to build a new track,’” Fairman said. ”

The Arizona Diamondbacks threatened to leave downtown Phoenix if Maricopa County doesn’t pay to upgrade Chase Field, and the Arizona Coyotes will need public money to help build a new arena in Tempe.
Source: Phoenix International Raceway To Get Influx Of Private Cash | KJZZ