The OREC business plan can be found in the heart of the SCOR report, but we decided to share the main parts of the plan here with you.
The Executive Summary
Onawa Racing, Incorporated was just a vision some 20 years ago. The vision never faded. Like most visions, they change, evolve, grow and morph into amazing things. In the last year tlus vision has done just that. A fmancially invested Board of Directors has proven to be dedicated and driven to see a change in our community. This dream, shared by ten men, now seems within reach.
Onawa Racing, Inc. was born in September of 2015 with the mission “To bring economic growth to our community d1rough entertainment.” With persistence and the cooperation of the City of Onawa, a plan was developed to turn the Onawa Municipal Airport into a drag strip.
This transformation will open many doors for the Onawa community. It will increase tourism, giving a boost to our local economy. This boost will bring opportunity for new jobs, an increase in new business growth, a return on investment to the city and an increase to our local tax funds.
Tlus track boasts an all concrete racing surface. It will offer 1,000 ft. of drag surface for botl1 1/8 mile and 1/4 mile races. Drawing a fan base from hundreds of miles around, as it is based in the heart of the NHRA’s largest division. The Board of Directors hopes to become a sanctioned NHRA or IHRA track in the near future.
This facility will offer a new 9,000 square foot building that will house indoor restrooms, concession stands and a seating area. The building will also provide the community a new, larger rental space to hold a wide range of events. There will be seating for 880 spectators, a large outdoor vendor area, and playground for the kids. Future plans also include a racers’ camping area and a water activity pad.
Onawa Racing, Inc. will be investing just over 1 million dollars in this project over the next 3 years. It will generate 3 new full-time employees and 15-20 part-time employees. The projected gross revenue exceeds $400,000 per season.
The Onawa Racing and Events Complex, with the only track of its kind within 300 miles, will prove to be the best around. In addition to the race track quality, overall personal experience will be incredible.
The future is getting bright in Onawa, Iowa and this is a ride you won’t want to miss.