CABARRUS COUNTY, N.C. — A new home could soon be on the horizon for NASCAR Productions.
The Cabarrus County Board of Commissioners voted 4-1 Monday night on an incentive package to entice NASCAR to bring the operation to Concord.
A NASCAR spokesperson told WCNC Charlotte it has the intention to move NASCAR Productions from Charlotte to Concord.
According to documents from the meeting, Cabarrus County will provide a three-year grant equal to 85% of the ad valorem taxes on the increase in real and personal property tax values. The estimated over the timeframe is $525,687 with a net revenue of more than $90,000 during that period.
NASCAR is considering relocating the NASCAR Productions operations from uptown Charlotte to a new technology center. NASCAR will also have some personal property in the project.
The new, proposed facility would be adjacent to the existing NASCAR R&D Center in the West Winds Business Park. The new facility would be a mix of office and broadcast production space, according to county documents.
NASCAR's investment in the project would be $28.5 million with 125 jobs moving from Mecklenburg County to Cabarrus County.
The project, which would be located at 7550 West Winds Boulevard, would also be slated to be in operation by Dec. 2023.
Concord city leaders adopted a similar incentive package May 12.
RELATED: Concord city leaders adopt 3-year development incentive to move NASCAR from Charlotte to Concord
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