Welcome to Independent Tribune Skip directly to: our Keyword Search, Section Navigation, Content.

independenttribune.com - Independent Tribune

HomeNewsEntertainmentSportsLifestylesOpinionCommunityWeather Online Tools Jobs | Real Estate | Shopping | Classified

County to consider development grant for Hendrick facility

By Karen Cimino Wilson | Independent Tribune

Published: July 19, 2009

Cabarrus County commissioners on Monday will consider awarding an economic development grant for a motorsports-related business the straddles the Cabarrus and Mecklenburg county line.

Hendrick Motorsports under the name JRH Vehicle Investments II, LLC, is considering expanding its current location in Cabarrus County. The company plans to build a 50,000 square foot facility with expected value of $2.9 million in Cabarrus County. The Hendrick Motorsports complex is located on Papa Joe Hendrick Boulevard and employs more than 500 people.

The expansion will add five new positions with an average salary of $42,000 per year.

The Cabarrus Economic Development Commission Board of Directors voted unanimously at its June meeting to forward the project to the commissioners for consideration. Cabarrus County commissioners will have a public hearing at 6:30 p.m. Monday on the proposed 85 percent tax incentive grant for the project. The proposed three-year grant will cost the county $46,749 in tax revenue from the proposed site. The county will collect about $8,249 for the three years of the grant instead of the $54,999 that would be due for that time period if no grant were awarded.

The proposed expansion area will be used to store cars for restoration and cars awaiting display at private events.

Commissioners said they were concerned about having a property used for storing vehicles straddle the county line. There's the possibility that vehicles could be moved from one the Mecklenburg to the Cabarrus side or vice versa when it's time to evaluate the property tax due. But County Manager John Day said Mecklenburg County has already worked out an agreement with the company about how that is to be handled.

Commissioners will vote on the proposed grant following the public hearing. Commissioners also will have a public hearing on a $3.6 million renovation of the old Cabarrus Creamery building on Church Street. The commissioners are also expected to vote on that proposal Monday.

Cabarrus County commissioners will meet Monday at 6:30 p.m. Monday in the commissioner chambers at the Cabarrus County Governmental Center, 65 Church Street, SE, Concord.

• Contact reporter Karen Cimino Wilson: 704-789-9141.