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Martinsville Gets Grant, Five-Year Guarantee
August 27th, 2010
MARTINSVILLE, Va. — Martinsville Speedway will remain on the NASCAR Sprint Cup schedule for at least the next five years thanks to an agreement between the International Speedway Corp. and the Virginia Tobacco Commission.
As part of the agreement the Tobacco Commission awarded Martinsville Speedway with a $1.5 million grant, which will be matched by Martinsville Speedway for a total of $3 million that will be used to upgrade the facility infrastructure.
“In consideration of this partnership, we’ve pledged to not petition NASCAR for the realignment of a Martinsville Sprint Cup Series date for at least the next five years,” said ISC President John Saunders. “We realize that NASCAR awards sanctions on a yearly basis and that a race date is never guaranteed. But, we work hard to ensure our facilities meet NASCAR’s standards for safety, promotion and other factors taken into consideration for awarding sanctions. We are confident in our ability to continue meeting their thresholds for hosting outstanding Sprint Cup Series races for our fans and guests.”
Work has already begun the construction of a new on/off ramp on U.S. 58, which is adjacent to the speedway. The new on/off ramp should help improve traffic flow during race weekends.
“Martinsville Speedway contributes greatly to the economy of the Commonwealth as a whole, and especially to the economy of Southern Virginia. That’s why it was so important for us to make certain that we retained two NASCAR Sprint Cup Series races at Martinsville every year,” said Virginia Lieutenant Governor Bill Bolling. “I am delighted that we were able to accomplish this goal, and I thank Clay Campbell and our friends at International Speedway Corporation for working with Governor McDonnell and our Commonwealth of Virginia partners to make this possible. We look forward to their continuing presence in Martinsville for many years to come.”
According to Frith Construction Co., general contractor for the improvement project, the equivalent of 50 fulltime jobs will be created for the duration of that project. Also, 94 percent of all subcontractors and vendors will come from the immediate area.
Work will begin on the first phase of the infrastructure upgrades immediately after the TUMS Fast Relief 500 on Oct. 24 and will be finished before the Goody’s Fast Pain Relief 500 on April 3.
Martinsville Speedway is the oldest active track currently in use in NASCAR. It opened in 1947 and has hosted NASCAR’s Sprint Cup Series ever year since 1949.



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