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Why the Grand Prix's $58M economic impact claim is mostly bullshit

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In the ongoing debate over whether the Detroit Belle Isle Grand Prix's organizers should be allowed to convert the city's one-of-a-kind island park into a private raceway, gearheads typically fall back to one point — the annual event provides a huge economic boost to the city.

This year, billionaire Grand Prix founder Roger Penske is claiming that his 2017 race generated $58 million in spending in the local economy, up $11 million from 2014.…


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