Tooele County Issues Fact Sheet Regarding Sale of MMP

Fact Sheet

  • Tooele County has announced plans to sell Miller Motorsports Park (MMP) to Mitime Investment & Development Group (Mitime).
  • Mitime is a wholly-owned subsidiary of the Geely Group of Companies (Geely). Geely is the largest independent automobile company in China. Geely also purchased the Swedish car company Volvo in 2010.
  • Geely University, a separate holding of Geely Group of Companies, also owns and operates 20 colleges, with over 30,000 students. Their automotive college offers courses in engineering, manufacturing, finance, and design.
  • Mitime has expressed that they will not only continue current operations of MMP for the 2016 season and beyond, but will also increase the scope and activity on the campus during the coming years.
  • Increased scope and activities will include a focus towards comprehensive motorsports education; international training and development programs; manufacturing of related race cars and trucks; the development and construction of additional facilities on premise for the motorsports industry; and a program for international tourism, promoting Tooele County and the Intermountain Region.
  • Included in Mitime’s proposal is the development of degreed classroom education and training programs, specializing in management and technical motorsports elements. It is their intent to partner with local higher-education institutions.
  • Mitime will develop and operate a comprehensive driver training program for road-racing, American-styled oval track racing, and off-road racing.
  • Mitime will design and produce oval-track race cars and hill-climb trucks on site, for export to China’s growing motorsports market.
  • Mitime will perform significant site upgrades to the facility. Initially, these will include improvements to qualify the campus for FIA and FIM racing events. The estimated costs of these initial investments are $6M-$8M.
  • Mitime will work with local governments to construct a sanctioned 3/8ths-mile oval track with stadium, a Rally-X course, and potentially a drag strip. The estimated costs of these additional capital expenses is in excess of $40M.
  • Mitime’s commitment extends further to possibly include the development and construction of an on site hotel, additional garages, and manufacturing facilities.
  • The price of Mitime’s purchase of the campus from Tooele County is $20,000,000.
  • The aggregate economic impact of ongoing operations, expanded uses, additional capital investment, increased property and sales tax activities, and related tourism is estimated to be over $1-Billion during the next 25-years.

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