Preparations are under way for the Gold Coast 500, Queensland 's largest annual sporting event, which will be held next month.

The Gold Coast 500's legacy is closely intertwined with the city's identity.

The event, steeped in history dating back to the Indy 300 event, is expected to deliver a significant economic boost to the region.

"This has really been part of the DNA of the Gold Coast right back to Indy days in 1991," Supercars chief executive James Warburton said.

The event is projected to inject approximately $60 million into the local economy, drawing an estimated 200,000 visitors.

"This is the largest event to happen on the Gold Coast where 200,000 visitors will come to our city and inject tens of millions of dollars into the local economy," councillor Mark Hammel said.

See Full Page