Cabarrus Today

Hendrick Motorsports is set to expand its manufacturing operations in Concord with the construction of a new 155,000-square-foot facility. This expansion is scheduled to be operational by June 2024 and will add over 50 advanced manufacturing jobs within three years, according to the Cabarrus Economic Development Corporation (EDC). The company is investing $14.9 million in this project.

The City and County will provide Hendrick Motorsports with economic development grants totaling $449,540 over three years. These grants are disbursed after tax collection, and the investment is expected to generate more than $1 million in additional tax revenue for local government over the next decade.

Bill Dusch, Mayor of Concord, expressed his support for the expansion: “The City of Concord is proud to be the home of Hendrick Motorsports. We are thankful for their commitment to continue growing their roots here and providing more opportunity for our residents through this expansion.”

Steve Morris, Chair of the Cabarrus County Board of Commissioners, also praised the move: “Hendrick Motorsports boasts a long, fruitful presence in our region, and this expansion is further proof of its investment in Cabarrus County. The addition of 50-plus advanced manufacturing jobs will not only provide economic growth but also a sense of opportunity for Cabarrus residents.”

Marshall Carlson, president of Hendrick Companies, commented on the significance of the project: “We’re proud to call Concord home. Over the past several years, Hendrick Motorsports’ commitment to advanced manufacturing has allowed us to diversify our business and retain quality jobs for our teammates. This new facility on our campus will allow us to further expand our manufacturing work and create additional career opportunities for people with specialized skills. We appreciate the warm response to the project and look forward to growing our investment here in Cabarrus County.”

Since 2019, Hendrick Motorsports has been investing in specialized manufacturing programs beyond racing and continues enhancing its capabilities across various commercial and government sectors.

For more information about economic development initiatives in Cabarrus County, visit www.cabarrusedc.com.