GANASSI RACING

Chip Ganassi Racing Teams (CGR) today announced that it will locate its two newest IZOD IndyCar Series teams, Service Central Chip Ganassi Racing and Novo Nordisk Chip Ganassi Racing, in Brownsburg, creating up to 30 new jobs by 2011.

Chip Ganassi Racing plans to invest $3.3 million to locate the new teams in a leased facility in the Hendricks County town.

“We are both honored and proud that Chip Ganassi Racing has selected Indiana to be the home for its two new racing teams,” said Rollie Helmling, director of motorsports for the Indiana Economic Development Corporation. “The high-wage jobs and economic benefits associated with this expansion adds to our state’s already vibrant motorsports industry and further solidifies Indiana’s position as the motorsports capital of the world.” The addition of Service Central Chip Ganassi Racing and Novo Nordisk Chip Ganassi Racing, sponsored by tire maker TBC Retail Group and diabetes care leader Novo Nordisk, expands upon CGR’s existing IZOD IndyCar Series race team – Target Chip Ganassi Racing – already headquartered in Indianapolis. Chip Ganassi Racing currently employs 75 associates in Indiana and plans to begin hiring additional workers immediately in preparation for the start of the 2011 season.

“Indiana’s rich history in motorsports, skilled workers and low-cost business environment makes it the most logical location for our team’s latest investment,” said Team Owner Chip Ganassi.

The Indiana Economic Development Corporation offered Chip Ganassi Racing Teams up to $325,000 in performance-based tax credits based on the company’s job creation plans. The town of Brownsburg will consider property tax abatement at the request of the Hendricks County Economic Development Partnership.

“Brownsburg continues to rev up economic development efforts and the addition of Service Central Chip Ganassi Racing and Novo Nordisk Chip Ganassi Racing gear in our economic engine,” said Matt Bowles, Brownsburg town council president. “The motorsports industry is an important contributor to our economy and the Ganassi decision to set up shop in Brownsburg not only creates new job opportunities but also builds on our reputation as a motorsports industry hub. We welcome the team and look forward to their success as they join our community of champions.”

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