The new 58,000-square foot studio will be built on the land adjacent to the NASCAR R&D Center, which is across Derita Road from the airport in Concord. The move comes months after Cabarrus County officials approved an incentives package designed to bring NASCAR Productions to Concord.
NASCAR confirmed the new facility will house 125 NASCAR Productions and Motor Racing Network employees with room to expand further in the future. NASCAR said it will also keep a large presence in Uptown Charlotte with a contingent of employees remaining at Fifty Five South (formerly NASCAR Plaza) for the foreseeable future.
“The scope and scale of the NASCAR Productions business has fundamentally changed in recent years, with NASCAR’s live event production operation more than doubling since 2018. Developing a state-of-the-art facility that can accommodate our continued expansion was paramount,” said Brian Herbst, SVP, Media and Productions. “In this evolving sports media landscape, live event production and investing in technology that enhances the fan viewing experience has never been more important — it’s essential that our new workspace can facilitate that strategic growth.”
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According to documents from the May 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 would invest around $28.5 million with 125 jobs moving from Mecklenburg County to Cabarrus County, documents show. The project is expected to be completed by the start of the 2024 NASCAR season.
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