0001|                       SENATE JOINT MEMORIAL 72
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                           PATRICK H, LYONS
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0005|     
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0006|                                   
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0007|     
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0008|     
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0009|     
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0010|                           A JOINT MEMORIAL
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0011|     REQUESTING THE ECONOMIC DEVELOPMENT DEPARTMENT TO COOPERATE
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0012|     WITH PROMOTERS AND DO ALL IT CAN TO FOSTER THE DEVELOPMENT OF
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0013|     PROFESSIONAL MOTOR SPORTS IN NEW MEXICO.
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0014|     
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0015|          WHEREAS, the Albuquerque international speedway
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0016|     corporation was created in 1996 to bring major professional
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0017|     motor sports to New Mexico by 1998; and
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0018|          WHEREAS, New Mexico is a great location for expansion of
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0019|     professional motor sports, with dry roads, temperate climate,
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0020|     three hundred days of sunshine each year, population growth and
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0021|     keen fan interest; and
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0022|          WHEREAS, the professional competition motor sports
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0023|     industry has a critical need for expanding existing facilities;
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0024|     and
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0025|          WHEREAS, the sports car club of America, the national
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0001|     association of stock car auto racing, the Indy racing league
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0002|     and the American motorcycle association are looking for
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0003|     opportunities to establish facilities and conduct racing events
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0004|     in the southwest; and
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0005|          WHEREAS, professional motor sports is one of the leading
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0006|     spectator sports in the world, with a dramatically increasing
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0007|     market and revenues expected to almost double in the next seven
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0008|     years; and
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0009|          WHEREAS, professional motor sports offers a tremendous
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0010|     economic development opportunity for New Mexico, promising
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0011|     benefits in new jobs and tax revenue; 
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0012|          NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE
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0013|     STATE OF NEW MEXICO that the economic development department
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0014|     work with the professional motor sports industry to develop
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0015|     facilities and businesses in New Mexico; and
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0016|          BE IT FURTHER RESOLVED that the economic development
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0017|     department report its findings and recommendations to the
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0018|     appropriate interim legislative committee by December 1, 1997;
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0019|     and
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0020|          BE IT FURTHER RESOLVED that a copy of this memorial be
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0021|     transmitted to the secretary of economic development.
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0022|                              
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