A short Newton oval that opened in 2006 after a string of failed plans, then drew NASCAR and IndyCar and now faces a major rebuild.
Iowa Speedway is a 1.408 km (0.875 mi) oval in Newton, Iowa, that opened in 2006 after years of failed plans. NASCAR owns it, it hosts a NASCAR weekend each year, and a $20 million renovation is planned before the 2027 race.
Iowa Speedway is a short oval in Newton, Iowa, measuring 1.408 km (0.875 mi). Since its first racing season in 2006 it has hosted NASCAR and IndyCar events, and it is now owned by NASCAR, which has announced a $20 million rebuild for 2027.
Where is Iowa Speedway and how is the track laid out?
The oval measures 1.408 km (0.875 mi) and sits near Interstate 80, about 56 km (35 mi) east of Des Moines. Its banking is progressive, reaching 12 to 14 degrees in the turns, with 10 degrees on the frontstretch and 4 degrees on the backstretch.
The complex was built with seven road course layouts alongside the oval. The longest of them is a 2.092 km (1.300 mi) roval that combines parts of the oval with an infield section, which gives the venue a second character for different series.
Measurements differ by sanctioning body. NASCAR uses the 1.408 km (0.875 mi) figure, while IndyCar measures the same oval at 1.439 km (0.894 mi), a small gap that matters when records are compared.
The venue opened with 28 luxury suites in 2006, and in recent years Hy-Vee has supplied extra temporary suites for IndyCar races. The most recent reported seating figure is about 30,000.
A short Iowa oval built on failed plans and public money now has NASCAR's backing and a $20 million rebuild on the way.
Why was the track built near Newton?
The first proposal came in November 2000, when Jerry Carroll, a Kentucky Speedway developer, offered plans for a $76 million, 40,000-seat track of one mile. He sought bonds from Jasper County and as much as $35 million from Vision Iowa, a state economic growth program.
Carroll left the project in January 2001 to focus on Kentucky, and Jerry Lowrie took over. Lowrie decided not to ask for bonds, and the project faced local opposition from residents near the site, who questioned his record.
Vision Iowa support was seen as critical. When the remaining funding fell below the needed amount, Lowrie left for a speedway in California, and race team owner Larry Clement took over the project in September 2001. Vision Iowa then demanded proof of investor commitments and rejected the funding by fall 2002.
A new group, U.S. MotorSport Entertainment Corporation under Paul Schlaack, won Newton City Council approval for a $30 million, 25,000-seat facility on April 16, 2003. Rusty Wallace was named the leading designer that June, and the budget rose to $50 million, then to $70 million in 2005.
How did the financing and construction come together?
Financing depended on public support and private loans. The developers pursued a ten-year sales tax break, the first of its kind in Iowa, which passed the House and was signed by Governor Tom Vilsack on May 4, 2005. Some lawmakers feared the precedent would drain state tax revenue.
A Georgia company, UBG Financial Corporation, promised to lend up to $57 million, but the offer was met with skepticism because of claims of little physical evidence of the company. Groundbreaking went ahead on June 21, 2005, and the speedway's economic impact was seen as a much-needed boost.
Wells Fargo replaced UBG with a $40 million loan later in 2005. The Maytag factory in Newton closed in May 2006, which made the speedway more important to the local economy, since it was one of the few large projects in the area.
In mid-2020 the journalist Robin Miller reported rumours that racing mogul Roger Penske was reportedly interested in buying the facility so it would stay on IndyCar's calendar. Former general manager Craig Armstrong dismissed the closure rumours and called the 2021 break a temporary setback.
Todd Melfi was appointed general manager in August 2005, and by October the track had confirmed its opening dates, including ARCA Re/Max Series and USAC events for 2006.
What happened in the early seasons?
The facility opened as scheduled in mid-September 2006, and Woody Howard took the first win. Tire wear was severe in the preliminary sessions and the race, so mandatory cautions were introduced before the event. Tire wear was the main concern of the opening weekend, and it shaped the first impressions of the track.
Three weeks after the opening, the track held its first music festival. In 2007 the Indy Racing League staged its first race at the venue, and Dario Franchitti won the first major race at the facility.
The Hooters Pro Cup Series race was planned to inaugurate the venue, with the date set for September 15, 2006, and the first season was marked by busy preparations.
NASCAR awarded the track annual Nationwide and Truck Series races for 2009, which gave the venue a stable base of stock car racing from its early years.
Seating has been pegged at around 30,000 in the most recent figures available, and the suites and temporary hospitality added for IndyCar races have helped the track fill its premium areas.
Who has owned and run the speedway?
Jerry Jauron replaced Stan Clement as president in February 2008, when the track was still building its reputation. Three years later U.S. MotorSport Entertainment sold controlling interest to the Clement family, which came from Newton, in line with a plan to transfer ownership within five years.
Jauron left shortly afterwards, in September, and Doug Fritz, who had been NASCAR's marketing director, took over. The track applied for an $8 million state grant to upgrade amenities, but the request failed, and it was found to be late on bill payments.
Fritz resigned in 2013. NASCAR acquired the track for $10 million in the wake of his exit, and Jimmy Small became its leader. David Hyatt, a former president of the Motor Racing Network, replaced Small in February 2018, and in February 2024 Eric Peterson succeeded Hyatt.
Key figures and milestones
| Item | Detail |
|---|---|
| Oval length | 1.408 km (0.875 mi) |
| Roval length | 2.092 km (1.300 mi) |
| Opened | September 15, 2006 |
| Ownership change | NASCAR purchase for $10 million in 2013 |
| Seating | About 30,000 |
| Renovation announced | $20 million, August 4, 2026 |
Which races are held at Iowa Speedway today?
The track hosts an annual NASCAR weekend featuring the Iowa Corn 350 for the Cup Series and the Hy-Vee PERKS 250 for the O'Reilly Auto Parts Series. Cup racing arrived in 2024 after NASCAR chose the track as a backup in 2023.
Xfinity and Truck Series events were held at the venue from 2009 to 2019. A second Truck race, the Fan Appreciation 200, ran in 2012 and 2013.
Other categories to race here include ARCA Menards, Rolex sports cars, Pro Mazda and USF2000.
How has IndyCar used the track?
The Indy Racing League announced annual races at the facility in 2006, and the first took place in 2007. In 2020 the COVID-19 pandemic led IndyCar to run a doubleheader, and the series kept that format when it returned in 2022.
In 2021 an ARCA race drew about 5,000 spectators when the track reopened to full capacity, a figure that put future events in doubt. A month later IndyCar announced its return for 2022.
What is planned for the track's future?
In October 2023 reports said NASCAR had chosen the speedway as a backup after a failed attempt to lure a Cup weekend to the Circuit Gilles Villeneuve for 2024. The decision was confirmed the next day, and the facility was set to host its first Cup races since opening.
On August 4, 2026 the speedway announced a $20 million project that will resurface the circuit and refresh the fanzone before 2027. Rumours about a sale or closure had circulated around the track in 2020, although the track itself kept racing. The announcement followed the track's return to a Cup calendar in 2024.
