IndyCar allocated over $400K in grants for race weekend in Iowa

The Iowa Economic Development Authority has allocated a sum of $400,000+ for the 2025 IndyCar race around the Iowa Speedway in Newton, Iowa. The sum was awarded as part of a sports tourism grant for the upcoming events at the Iowa Speedway, which include the NASCAR Cup Series race and the IndyCar race.

The grant was sent to Newton Community Events, an organisation responsible for raising funds for the events taking place in Newton. IEDA reportedly transferred a total sum of $487,500 to NCE for the NASCAR and IndyCar race weekends. Newton Community Events will further provide the Iowa Speedway with the funds for promotions and other pre-race related operations.

Out of the grant, $437,500 has been awarded for the double-header IndyCar race at the Iowa Speedway, whereas $50,000 was awarded for the NASCAR Cup Series race at the circuit.

The Iowa Speedway is currently owned by NASCAR, which acquired it in November 2013. The track was primarily used for NASCAR Xfinity and Craftsman Truck series races in the past but was introduced to the Cup series last year. The 2025 race will be the second running of the Iowa Corn 350.

IndyCar, on the other hand, has been racing around the Iowa Speedway since 2007, with the doubleheader weekend debuting in 2022. The racetrack continues to be a two-race weekend on the IndyCar calendar.

The NASCAR Cup Series Iowa Corn will take place on August 3, whereas the IndyCar doubleheader race will take place on July 12 and July 13.

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The former Iowa Speedway General Manager shared thoughts about the IndyCar grants from IEDA

As per the reports, the IndyCar grants will go toward the growth of the race on a national level, which will include promotions on national TV, radio and digital ads. The grants for the NASCAR race, however, will be used for local promotions, which worked last year as the debut Cup series race was sold out.

Speaking about the grant from IEDA, Craig Armstrong, the former Iowa Speedway General Manager and current Newton Economic Development specialist said (via kniakrls.com):

“Some of the race fans I talked to the past couple of years were feeling there wasn’t as much emphasis on the reason they were coming to the race, which was racing. Part of the grant Newton Community Events secured for IndyCar weekend will be utilized to go back and talk to those race fans that maybe haven’t come for the past couple years because they really want to see the race.”

Team Penske's Ryan Blaney took the win during the 2024 Iowa Corn 350 Cup series race, while Scott McLaughlin won the IndyCar Race 1, and Team Penske teammate Will Power won the second race.