A car ploughed into a road sign on the island at Chesterfield's Horns Bridge roundabout - just feet away from the Growth sculpture.
Derbyshire Roads Policing Unit posted the below picture on the social networking site Twitter earlier this morning.
The tweet said the driver was 'travelling that fast' they could not stop at the junction.
The driver ran away and the vehicle was seized, the tweet added.
Derbyshire Constabulary is unable to provide any further information at this time.
It is almost three years years since Growth was installed on the island.
The £300,000 statue, which was created by Derbyshire artist Melanie Jackson, drew a mixed reaction when it arrived in the town.
Funding for the sculpture came from the European Regional Development Fund and Barratt Homes and could only be used to make improvements to the town's gateways and for public artwork.
When it was unveiled, Chesterfield Borough Council councillor Terry Gilby said: "Horns Bridge island is a key location for people entering Chesterfield from the M1 and is seen by people passing on the train and we're confident this will act as a focal point to welcome people to the town centre."