Lowe's Motor Speedway to Stay in Concord

CONCORD — A spokesman says that Lowe's Motor Speedway owner Bruton Smith has decided to keep his operation in Concord rather than move it as he had threatened.

Speedway official Jerry Gappens says Smith plans to discuss his decision at a news conference on Monday.

The issue arose when city officials said Smith couldn't build a $100 million drag strip near the speedway because of noise concerns. Smith then threatened to move the speedway.

Fearing the loss of a major economic engine, the Concord City Council then reversed its stance and approved the drag strip proposal. The city also sweetened the pot by offering up to $75 million in incentives to help Smith renovate and expand Lowe's Motor Speedway.

The incentives, which could include improvements to nearby roads and property tax rebates, would be evenly split among Concord, Cabarrus County and the state, officials said.

Studies show NASCAR generates about $5 billion a year in North Carolina. About 90 percent of race teams are based in the state, and the NASCAR Hall of Fame is being built in Charlotte.

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Latest Comments

Well played, Bruton. Well played indeed.

drnc
November 22, 2007 6:22 p.m.

Not bad for a day's work and oh yeah, a temper tantrum...$75 million. Bruton has always used state money for traffic control around the track...other sports venues have to pay for that but not Bruton, he just feeds the troopers steaks and everyone is happy, except you, who is paying for all that. Estimated costs to the state is about $300,000 per race Now, you will help him upgrade his track and I guarantee the ticket price will go up. So much for the working man who made that sport. I used to work in NASCAR and I don't recongize the sport anymore!

iwondersometimes
November 22, 2007 9:28 a.m.

I'd sure like to know what the State "incentives" were. I really don't care what Concord and Cabarrus Co. paid Bruton Smith when he got mad at them and made them pay homage. Those are their tax dollars. The state "incentives," however, were paid with our money. The Attorney General needs to look into this scheme.

DukeMoney
November 22, 2007 7:15 a.m.

My resident NASCAR fan says BS can stick it up Hollywood Blvd.!

We, too, long for the olden days of racing when that's what they did... period. Unless of course, there was some swinging of fists at the end for an encore to the show!

Kidw4legs stops in
November 22, 2007 7:15 a.m.

DayumKrazy1.....would you like some cheeze with that whine? Sounds like you have too much anger to be a true NASCAR fan. Get over the fact that whoever it is you pull for can't compete on the same level as Dale Jr. And is nowhere as popular as Dale. I bet it is Juan Pablo Mon....whoever! As far as Bruton is concerned....he is nothing more than a spoiled child in an old man's body. I can't believe that they voted the way they did....and to give incintives?....what a bunch of scared little girls!