Chip Ganassi Racing [#40, #41, #42 Dodges] is considering moving its headquarters to Concord from Mooresville, Concord city officials announced Tuesday. The move would add to Concord’s racing credentials, giving the city three of the largest NASCAR racing teams. Already, Winston Cup teams Roush Racing and Hendrick Motorsports have their headquarters in Concord. The city is also home to Lowe’s Motor Speedway and a NASCAR research and development complex. Ganassi is looking at a 59-acre site at Poplar Tent and Derita roads adjacent to Concord Regional Airport. The land is large enough for expansion or for the company to sell off to related businesses, said City Manager Brian Hiatt. The company would invest $15.5 million and employ 150 initially. That could grow to 350 within five years, Hiatt said. In addition to a headquarters building, the company also would build an airport hangar at Concord Regional, a city-owned airport. Construction is expected to be finished in 2004, according to the city. In return, Concord is likely to dangle a total of $242,690 in grants over four years for real and personal property taxes. That follows the city’s incentive policy for this size investment. The council will consider the incentives Oct. 20, and Padgett said he expects them to be approved. An official with Ganassi declined to comment.( Charlotte Observer )(10-8-2003)
