CABARRUS COUNTY, NC — Henrik Motorsport plans a $15 million expansion at its Cabarrus County campus to expand its advanced manufacturing services. The project will preserve 75 existing jobs and create 50 more over the next three years.
Cabarrus County and the City of Concord have approved a total of $450,000 in incentives for Hendrick, representing 85% of the additional tax revenue projected during its first three years of opening. Local governments estimate that the advanced manufacturing center will generate US$1 million in tax revenue over a 10-year period.
According to Cabarrus County, the new jobs will pay an average salary of $62,000 with $17,000 in incentives and benefits. The district grant is $273,000 and the city grant is $177,000.
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