NOMINATED BY JOSH NADEAU, NMDC
One of the more striking things about Aroostook County is how much potatoes mean to the local economy and culture. Because of this, it shouldn’t be surprising that the local race track and event venue would be named Spud Speedway. Founded in 1964 as a local race track, Spud Speedway hosted small races and helped give rise to big names in New England racing. In 2009, Air Force veteran Troy Haney purchased the business and started the process of revamping the track and venue, preparing it for major expansion and diversification beyond the track.
After years of working on building up the profile of Spud Speedway and working toward diversified revenue for the business, Troy brought in new co-owners in 2023 with James and Michelle Gamage. From this point on Spud Speedway began to host a number of new events and became a focal point for community entertainment. This growth has required more major reinvestment such as an expansion of the fairgrounds, the addition of a new grass drag track, dedicated mud bog and truck pulling tracks, additional seating, and fencing around the property. To help cover these costs, Spud Speedway reached out to Northern Maine Development Commission for an SBA Microloan.
With the upgrades in place and the increased profile of the venue, Spud Speedway has seen significant growth in revenue and employment, as well as an increased impact on the local economy. The events hosted at the track and fairgrounds bring a large number of tourists to Caribou, where they book hotel rooms, visit restaurants, and see a part of the state that they otherwise would have missed.
Throughout the changes, expansions, and new partnerships, Troy has maintained a strong sense of responsibility for the community, serving as chair of both the Caribou Development Committee and the Business Investment Group, and a board member at the Loring Redevelopment Authority, working to redevelop the former Air Force base that drove economic activity for years prior to its closure.
By bringing quality events to Northern Maine and continuously working to upgrade and reinvest in the business, Spud Speedway’s leadership team has demonstrated their commitment to their community. Troy’s advocacy for other businesses and his work to redevelop the former base are especially worthy of recognition, and for these reasons the SBA is pleased to name Spud Speedway the 2026 Veteran Owned Small Business of the Year for Maine and New England.
