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"Ryan Gets $300,000 Grant for Speedway Study"
"WASHINGTON -- A spending bill that awaits President George W. Bush's signature allocates $300,000 for one final study on the feasibility of building an indoor speedway in Trumbull County. The speedway study grant is part of the five-year reauthorization package for the U.S. Economic Development Administration passed today by both houses of Congress, U.S. Rep. Tim Ryan, D-Ohio 17, announced late Monday. "This is huge step forward in our efforts to see the world's first indoor racetrack built in the Mahoning Valley," said Ryan. "Completion of the project would mean approximately 1,300 jobs for our area, with an estimated economic impact of $100 million annually."The proposed $300 million project would be the first fully enclosed major racing facility in the world. It would initially seat 60,000 and be expandable to 120,000 people, according to project promoters. The Phase II study includes an analysis of the motor sports industry, an assessment of non-motor sports activities that can be held at the facility, the financing options and securing technical expertise, the congressman said."The $300,000 will allow us to complete the study phase of the project and make a final decision about whether this project is viable in the Mahoning Valley," Ryan said. "I believe this project is a once-in-a-lifetime opportunity for us to revitalize and transform our economic future. I intend to make sure that opportunity is pursued to the fullest extent possible.""