Italian-based racing company Dallara has won the competition to create the new chassis for the IndyCar Series and plans to open operations in Speedway to build it.

The company's first expansion outside Italy could create more than 80 new jobs in Speedway. Dallara will move into a new, state-of-the-art technology center located on Main Street, investing $7 million into the facility.

Cars will feature a rolling chassis with an enhanced safety cell, and manufacturers will be able to dress the cars in multiple ways.

IndyCar made the announcement Wednesday. IndyCar CEO Randy Bernard said the cars will be ready to go in 18 months.

Dallara also created the current chassis, which has been used since 2003. Five companies bid on the new chassis.

Bernard said Dallara has committed to helping reduce the price of the chassis by 45 percent over the current cost. The main unit will cost $345,000, with a complete package including side pods and wings costing $385,000.

Indiana Gov. Mitch Daniels said Dallara has agreed to work with Indiana companies and schools in several unique initiatives.

For starters, Dallara officials agreed to give a $125,000 discount to the first 28 Indiana-based IRL teams to buy a new 2012 chassis.

Dallara also agreed to use Indiana parts suppliers and work with Indiana colleges and universities to continue the advancement of motorsports and their chassis.

Dallara officials present at Wednesday’s press conference also said the Speedway factory could grow, and would include engineering facilities as well as a “state-of-the-art simulator center,” that would be open to teams, drivers and fans.