READI for: the Kokomo Speedway

Local leaders ask for $350,000 to upgrade drainage and wastewater services

(Editor’s note: This is an installment in an ongoing series about the $30 million READI grant local leaders hope will finance dozens of projects in the region.)

The Kokomo Speedway has been a north-end mainstay for decades, and it is largely the same as it was when it opened in 1947. A dirt track oval with a couple grandstands. Roaring engines. The smell of exhaust. The rumble in the chest of everyone in attendance.

It is open wheel racing with a primitive edge, and it is a popular attraction. Racing legends such as A.J. Foyt, Mario Andretti, and Tony Stewart have raced here. People come to Kokomo from all over the Midwest and beyond to experience racing here. But it could be better.

Local economic development leaders have selected the speedway as one of more than 30 projects in a six-county region to receive funding through a Regional Economic Acceleration and Development Initiative (READI) grant.

Kokomo Speedway upgrade

Project estimate: $1.15 million

Local investment: $300,000

Private investment: $500,000

READI request: $350,000