Hendrick Motorsports plans $15M expansion, new jobs in Cabarrus County

CABARRUS COUNTY, N.C. — Hendrick Motorsports is planning a $15 million expansion on its Cabarrus County campus to expand its advanced manufacturing services. The project will preserve 75 existing jobs and create 50 more over the next three years.

Cabarrus County and the city of Concord have approved a combined $450,000 in incentives for Hendrick, equal to 85% of the additional tax revenue projected during the first three years it’s open. The local governments estimate the advanced manufacturing center will generate $1 million in tax revenue during over 10 years.

According to Cabarrus County, the new jobs will pay an average salary of $62,000 with $17,000 in incentives and benefits. The county grant is for $273,000 and the city’s is $177,000.

Read more here --> bit.ly/3J5HQKm

(WATCH BELOW: Fans ‘undeck’ the NASCAR Hall of Fame by choosing gifts in annual tradition)

Fans ‘undeck’ the NASCAR Hall of Fame by choosing gifts in annual tradition

©2023 Cox Media Group