Virginians Racing for The Hall of Fame ("VRHOF"), a non-profit corporation formed for the purposes of submitting Richmond's proposal to NASCAR for the NASCAR Hall of Fame, provided an update to the media today at Richmond International Raceway.   VRHOF is a public-private partnership whose leadership team includes senior representatives from the Commonwealth, Henrico County, regional entities, tourism and economic development professionals and Richmond International Raceway.

Fred Agostino, President of VRHOF and Executive Director of the Economic Development Authority of Henrico County, believes Richmond's proposal will be strong: "From the start, we haven't tried to win this proposal in the media, but instead have focused our efforts on assembling the best professional team to put together a winning proposal."  

Doug Fritz, President of Richmond International Raceway and Vice President of VRHOF said: "The NASCAR Hall of Fame belongs in Richmond - we have the track that provides the best racing, a strong, loyal, enthusiastic fan base, a rich NASCAR history and the perfect location to grow the NASCAR fan-base for generations to come."

VRHOF announced the team that has been working for months behind the scenes on  Richmond's proposal: 
*Economic Research Associates:  ERA is an international consulting firm focused on
economic analysis for the entertainment and leisure industry, real estate, tourism, and
economic development.  Clients have included Walt Disney World, the MCI Center, Universal Studios, Paramount Parks, the Kennedy Space Center and Colonial Williamsburg.
*Gallagher And Associates:  Design services firm that works on museums, visitor's centers, science centers, etc.  Projects include International Spy Museum, Rock and Roll Hall of Fame, Baseball Hall of Fame and the Jamestown Settlement.
*The Smith Group: Multiple award winning architect firm.  Past projects include Smithsonian Museum of Natural History, the National Academy of Sciences and the Detroit Metropolitan Airport. 
*Davenport & Co LLC:  Broad-based financial services firm headquartered in Richmond.
*The Executive Director of VRFHOF is Josh Lief, former Secretary and Deputy Secretary of Commerce and Trade and currently Executive Secretary of the Virginia Motorsports Coalition.

VRHOF will present to NASCAR facts that will warrant its serious consideration as the host for the Hall of Fame, including that: 
*Greater Richmond is the Best Location and will draw the most visitors:
-700,000 visitors annually are expected to a Richmond-area NASCAR Hall of Fame, based on comprehensive economic analysis.  Studies indicate each of the remaining cities would draw hundreds of thousands less fans each year.
-Access to the largest population - over 55 million -- of any competing market within a 300 mile radius.
-5.3 million current visitors to Richmond area and close proximity to Washington D.C.'s 16.4 million annual visitors.
-The most NASCAR event spectators - 2.2 million -- within a day's drive of any competing market.
-Best for fans because of access via major interstate highways and low tourism costs, including hotel rates.

The Greater Richmond Region will offer NASCAR multiple locations, each offering distinct advantages: 
*VRHOF has obtained an option on land that intersects major, area interstate highways that would provide the best exposure for the NASCAR Hall of Fame. 
*A NASCAR Hall of Fame Entertainment Complex including a hotel and retail stores
*Richmond International Raceway location
*A track-based experience

VRHOF has developed a world class, architecturally unique HOF designed for the entire NASCAR community
*68,000 sq. ft of exhibits and fan areas.  129,000 sq. ft. total.
*State-of-the art interpretive technology to encourage fan interaction and learning while enhancing depth of experience.

VRHOF has commissioned economic impact studies that demonstrate that a NASCAR Hall of Fame in the Greater Richmond area will be a benefit to all:
*Capital Cost of Hall of Fame facility - $103 million
*Operating Cost and Revenues - $8 million per year projected revenues with $1.5 million projected annual surplus for just the HOF.
*$6 million direct tax impact (HOF only) - $4.7 million to Commonwealth and $1.3 million to County.