Speedway was laid out in 1912 as a residential suburb. It took its name from the Indianapolis Motor Speedway. It is an early example of a residential community planned for the industrial plants located nearby. Carl G. Fisher, James A. Allison, Frank Wheeler, and Arthur Newby, founders of the Indianapolis Motor Speedway, planned the suburb of Speedway west of the track. Fisher and Allison owned plants that needed workers, the Prest-O-Lite factory and Allison Engine Company. The investors' goal was to create a city without horses, where residents would drive automobiles, as well as participate in creating mechanical parts for new modes of transportation. The Speedway Historic District was listed on the National Register of Historic Places in 2005.
Geography
Speedway is located at . According to the 2010 census, Speedway has a total area of, of which is land and is water.
As of the census of 2010, 11,812 people, 5,550 households, and 2,931 families resided in the town. The population density was. The 6,709 housing units averaged. The racial makeup of the town was 74.2% White, 16.7% African American, 0.3% Native American, 2.0% Asian, 4.4% from other races, and 2.3% from two or more races. Hispanics or Latinos of any race were 7.6% of the population. Of the 5,550 households, 26.9% had children under the age of 18 living with them, 32.4% were married couples living together, 15.3% had a female householder with no husband present, 5.2% had a male householder with no wife present, and 47.2% were not families. About 39.9% of all households were made up of individuals, and 12.9% had someone living alone who was 65 years of age or older. The average household size was 2.13 and the average family size was 2.84. The median age in the town was 37.8 years. About 21.7% of residents were under the age of 18; 10.8% were between the ages of 18 and 24; 26.7% were from 25 to 44; 25.8% were from 45 to 64; and 14.8% were 65 years of age or older. The gender makeup of the town was 48.3% male and 51.7% female.
2000 census
As of the census of 2000, 12,882 people, 6,151 households, and 3,278 families resided in the town. The 6,151 households had 24.5% with children under the age of 18 living with them, 36.6% married couples living together, 12.5% female householders with no husband present, and 46.7% not families. In the town, the population was spread out with 20.9% under the age of 18, 10.1% from 18 to 24, 31.5% from 25 to 44, 20.2% from 45 to 64, and 17.2% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 89.2 males. For every 100 females age 18 and over, there were 84.9 males. The median income for a household in the town was $37,713, and for a family was $49,005. Males had a median income of $36,756 versus $26,954 for females. The per capita income for the town was $21,468. About 5.6% of families and 8.8% of the population were below the poverty line, including 7.7% of those under age 18 and 9.5% of those age 65 or over.
In addition to the Indianapolis Motor Speedway itself, several related companies are located south of the racetrack, including the United States Auto Club headquarters, the Dallara racecar factory, racing teams A. J. Foyt Racing, Harding Racing, and Juncos Racing, and the Speedway Indoor karting racetrack. Also, Allison Transmission has a factory nearby.
