Skip to content
Simple ImageSimple Image

UPDATE: North Carolina governor proposes money to race tracks from American Rescue Plan

AND: The following is a statement from Speedway Motorsports President and CEO Marcus Smith on funding for North Wilkesboro Speedway, Charlotte Motor Speedway being included in North Carolina’s 2022 budget as part of the American Rescue Plan:

Marcus Smith, Speedway Motorsports President and CEO:

“I’d like to thank Gov. Roy Cooper, House Speaker Tim Moore, Senate President Pro Tem Phil Berger and all our state legislators for their support of motorsports and economic development in the new state budget. The allocated funds from the American Rescue Plan are investments in the future for the motorsports and tourism industries of North Carolina.

“While Charlotte Motor Speedway is considered modern by many standards, it’s still more than 60 years old and in need of infrastructure improvements to maintain its position as an attractive venue for world-class events. We’ll use the state allocation toward upgrading fan amenities along our frontstretch, and we’ll have more details to share at a later date as we prepare for the Coca-Cola 600 next May.

“The allocation toward North Wilkesboro provides the starting capital needed to rebuild the infrastructure of the historic facility. With state budget amounts now finalized, we can zero in on project priorities and determine work schedules. The goal will be to modernize the property so that it can host racing and special events again in the future.

“I’d also like to thank all the members of the Wilkes County community who have donated their time and hard work to help demolish old buildings and clear brush and debris. We are truly grateful for what you’ve already done, and we look forward to rebuilding North Wilkesboro Speedway.”

— Speedway Motorsports —

UPDATE (11/18/2021): According to the North Carolina 2021-2022 state budget, $40 million will be allocated towards the tracks of Rockingham Speedway, North Wilkesboro Speedway and Charlotte Motor Speedway.

Rockingham will get $9 million through Richmond County for water and sewer and other infrastructure projects.

Wilkes County will get $18 million to coordinate with local government units for water and sewer and other infrastructure projects towards North Wilkesboro.

The City of Concord will get $13 million for similar projects related to water and sewer and related infrastructure to CMS.

Also, motorsport venues that that are presently sanctioned by NASCAR, NHRA or IHRA and have ran a Cup Series race since Sept. 29, 1996 are eligible for $5 million grants

Original Post (5/19/2021): North Carolina Governor Roy Cooper and state officials discussed their plans for allocating federal funds from President Biden’s $1.9 trillion American Rescue Plan Wednesday afternoon.

The funds are expected to go to schools, healthcare and other institutions affected by the pandemic. Here’s how plans for some of it will be spent.

  • $1.2B to broadband access, to help close the gap for those struggling to find work.
  • $575M to affordable housing
  • $800M to water and wastewater investments
  • $350M to scholarships and financial aid
  • $350M to the industries hit the hardest by the coronavirus pandemic
  • $300M to public education
  • $250M to low-income families dealing with financial hardship
  • $45M to tourism, motorsports and outdoor events including $10M to Charlotte Motor Speedway and $10M to North Wilkesboro Speedway

Treasury officials said the funds should not be used by state and local governments to cut taxes, pay down debt or bolster reserve funds.

— Fox 8 —

AND:  There is $10 million for North Wilkesboro Speedway:

AND:

The money would have to be approved by the North Carolina state legislature.