DAYTONA BEACH, Fla. -- Some damaging economic news just hit Volusia County. NASCAR's annual test drives at tracks like the Daytona International Speedway have been cancelled because of the slumping economy.

The cancellation of NASCAR's 2009 preseason will have an impact on the local economy. Last year, for example, the two-week testing session brought 100 race teams to Central Florida, as well as thousands of their loyal fans.

After months of discussions between NASCAR and their race teams, the preseason was scrapped to help teams control costs in the slumping economy.

To give you an idea, they usually spend $1 million per car during testing. The Daytona International Speedway does not have any figures on how much of that money helps fuel the local economy during the two weeks in January, but the Convention and Visitors Bureau says the loss of revenue for local hotels and restaurants is significant.

"It's a great piece of business for us. It's not huge, but it's consistent year to year," said Lori Campbell Baker, Daytona Convention & Visitors Bureau.

The Daytona International Speedway said those who purchased tickets for the preseason Thunder Fan Fest events will be contacted about a refund. If you would like to contact them, the number is 1-800-PIT-SHOP.