Cabarrus County officials expects to hear by Thanksgiving whether billionaire Bruton Smith really will move Lowe’s Motor Speedway out of Concord.
Smith has threatened to spend $350 million to move the track elsewhere in the Charlotte region following a dispute with Concord City Council over his plans to build a drag strip at the speedway. The city council has since retreated from its opposition to the drag strip, and also wants Smith to proceed with plans for extensive renovations at the track.
There are those who believe Smith will make good on his threat, which would be the latest in a series of blows to Cabarrus County. In June, Philip Morris USA announced it was phasing out its Concord plant, eliminating 2,500 jobs. That followed the devastating shutdown of Pillowtex in 2003, which took 4,000 jobs in Cabarrus and Rowan counties.
The loss of the speedway would be “strike three” for Concord. There is talk of unsubstantiated rumors that Smith has more land somewhere, just waiting for development. Other towns in the region are promising Bruton the moon. Bram, BckStretchMotorsports.com
Smith said buying New Hampshire won’t have any affect on his thoughts about replacing Lowe’s with a new track somewhere in the Charlotte area.
‘‘This purchase has nothing to do with that,’’ Smith said. ‘‘What we announced today has no bearing with that we will do with Lowe’s Motor Speedway.’’ HappyNews.com
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