The brand new Iowa Speedway has already announced a primary sponsor for its maiden IRL IndyCar Series race next year thanks to the state Corn board.

The opening weekend of IRL action at the Rusty Wallace designed seven-eighths mile oval will be called the Iowa Corn Indy 250 presented by Ethanol on June 24th 2007.

The announcement was made at this weeks Iowa State Fair by Wallace, current Team Ethanol IndyCar Series driver Jeff Simmons, Iowa Speedway officials and representatives of Iowa Corn.

"I've watched the impact ethanol fuel is making on racing, especially the Indy Racing League," Wallace said, "It's an honour for us to have a major sponsorship - for a major race - from a major industry group here in the state of Iowa. It's really great for racing, for Iowa Speedway, and for the many folks here in Iowa who make their living growing corn."

Kyle Phillips, ICPB chair-elect and a corn grower from Knoxville, Iowa, said Iowa Corn is proud to carry their ethanol message to consumers nationwide by sponsoring the race.

"This is a great opportunity to show the entire U.S. that ethanol is a winner," Phillips said. "With all the Indy Racing League cars running on 100 percent ethanol in 2007, it's an ideal fit."

Iowa Speedway President, Stan Clement said Iowa Corn, Iowa Speedway, and the Indy Racing League make a nice fit.

"If you're a farm kid growing up in Iowa, or anywhere in the Midwest, you usually have a pretty good understanding of corn, cattle, and auto racing," Clement said. "I think the Indy Racing League also has a good understanding of what ethanol fuel can mean for racing, too. So, we're delighted to have Iowa Corn as our title sponsor for next year's Iowa Corn Indy 250.