AURORA, Colo. (AP) — A team of developers says they plan to build a race track east of Denver's airport that is expected to seat up to 100,000 people.

The developers led by the Colorado Springs-based Schuck Corporation said they plan to begin construction on the $200 million project as soon as late 2010. Officials overseeing the project said Wednesday the track would host a variety of national racing events, including stock car racing, motorcycle racing, and road racing.

U.S. Rep. Ed Perlmutter, whose district covers Aurora, praised the idea of a race track, saying the project "has the potential to bring thousands of new jobs and millions of dollars to Colorado at a critical time in our economic recovery efforts."

Developers said their decision to go forward with the project was influenced by a bill the Colorado Legislature passed this session, known as the Colorado Tourism Act. The bill, which has yet to be signed by Gov. Bill Ritter, allows local governments to use sales-tax revenue for tourism projects. Those projects must first be approved by the state's Economic Development Commission before the sales taxes can be used to finance construction.

The racing facility is expected to have a 1-mile oval speedway and a 4-mile road course, on 1,500 acres located about 10 minutes east of Denver International Airport.

Developers also said they plan to explore whether the racing track qualifies for stimulus funding.

The International Speedway Corp. in Daytona Beach, Fla. has discussed building a NASCAR track in Aurora for more than two years but plans have languished. The group had considered a $400 million track on 1,000 acres, also near DIA. An ISC spokesman said in March that building the track in the near future wasn't likely, and that they would need a serious commitment from a city for a public-private partnership, which would likely mean a tax increase.

With Aurora slashing its budget, Councilman Ryan Frazier said at the time a race track would be the last thing the city could afford to help build.