Entrepreneur James Allison helped establish Indianapolis Speedway Team Co. in 1915 and later built a precision machine shop here near Speedway to improve race cars. Upon U.S. entry in World War I in 1917, the 500-mile race was suspended and he devoted the shop’s resources to the war effort, including making parts for Liberty aircraft engines. By 1921 the shop was named Allison Engineering Co. General Motors purchased the company in 1929 and focused its work on aircraft engines. During World War II, the Allison Division built 70,000 liquid-cooled V-1710 engines for fighter aircraft. The company grew to more than 23,000 employees and received awards for excellence in production. By the mid-1940s, it was manufacturing jet engines and transmissions that later played a key role in the Korean War.