Miller family remains committed to late father’s $104 million ‘playground’ as a viable business

The Miller family remains committed to Tooele County and Miller Motorsports Park, and plans to put the track in the black soon, according to Greg Miller, CEO of the Larry H. Miller Group.

“There have been rumors that we might be selling the Motorsports Park,” Miller said. “I do not know where they started, but they are not true. From an economic level, it would not make sense to sell the park. We could not get from the sale what we have invested.”

Miller admitted the park has struggled financially since opening, but hopes to rectify that within the next two years. Last year, MMP generated $7.1 million in revenues, 5 percent of which were paid to the county as a $353,600 rent payment for the property the track sits on.

“We are learning and becoming better year to year at operating the park,” he said. “We have a business plan that should have us breaking even by 2011. To break even would be success.”

Miller, the eldest son of Larry Miller, became CEO of the Larry H. Miller Group at the age of 42 in July 2008. He now oversees a business empire that generates over $3 billion in revenue annually and employs over 7,000 people in six states. Miller Group companies include the Megaplex theater complexes, car dealerships in over 40 locations, and the Utah Jazz, as well as MMP.

The Miller family has three ventures in Tooele County presently: MMP; the Miller Motorsports Business Park, comprising almost 900 acres the Miller family owns just east of Deseret Peak Complex; and a 266-home development in Grantsville that is still in the planning stages (see related story on A2).

Greg Miller was present Wednesday as British household products giant Reckitt Benckiser broke ground on a 600,000-square-foot distribution center that will be the first business in the MMP Business Park.

“To have a world class company like Reckitt Benckiser locate at the business park as an anchor tenant gives us instant credibility,” Miller said. “Even in these tough economic times, we see new, meaningful and beneficial businesses locating in Tooele County.”

Miller has a long-term vision for the business park focused on light industrial and tech operations.

“I would like to see a little village populated with progressive and ethical businesses that produce goods and services,” Miller said. “While the businesses may not all be motorsports related, they will help lend sustainability to Miller Motorsports Park.”

Miller said although MMP was originally his father’s pet project, his family have all been bit by the racing bug.

“My father originally would have built the track in his backyard if there was enough room,” Miller said. “The idea was to have a playground were my father, his family and friends could drive and race his cars. He found this property in Tooele and the track idea took on its own life, and eventually became a $104 million investment. But I am interested in cars and so are my father’s other sons. So from a personal level, we, as a family, are still very interested in the Motorsports Park.”

Miller also commented on why his family has long been drawn to the Tooele Valley.

“I love the serenity and the beauty,” Miller said. “Listen to the meadow larks singing, look at the horses in the field and the beautiful mountains. On a clear day, the view over the lake to the north — you can see all the way to Promontory Point. It is wonderful out here.”

Tim Gillie: tgillie@tooeletranscript.com