Concord City Council Approves Economic Development Incentive for NASCAR Expansion in Concord
CONCORD, NC (WBTV) — The Concord City Council voted Thursday to approve an economic development incentive for NASCAR to support business expansion in Concord. NASCAR plans to invest more than $28 million in a new technology center, adjacent to the existing NASCAR Research and Development Center in West Winds Business Park.
The Technology Center, located at 7550 West Winds Blvd NW in Concord, would house the NASCAR Productions operation currently located in Charlotte. NASCAR Productions is the television and video production division of NASCAR. This 58,000 square foot facility, with room for expansion, would be a mix of studios, production facilities and offices.
NASCAR would also displace 125 jobs as part of the move with the potential for more jobs to be created over time. The average salary associated with these jobs is $77,000.
“NASCAR has been part of the fabric of our community for decades,” said Page Castrodale, executive director of the Cabarrus Economic Development Corporation. “We are delighted that the success they have found at Concord so far has allowed them to grow here.”
Concord City Council voted unanimously to approve an incentive package totaling $340,986 over three years. The Cabarrus County Board of Commissioners will meet on Monday to consider the incentives.
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