CONCORD, N.C. (QUEEN CITY NEWS) — Concord could become a big driver in the Formula 1 racing world.
A new F1 racing team, owned by General Motors, is hoping to build an engine manufacturing facility near the Charlotte Motor Speedway. F1 Cadillac race cars could soon be built in Concord.
“It’s really exciting that Formula One’s coming to Concord because they can go anywhere in America, they can go anywhere in the world,” said John Dodson, Vice President of Business Alliances and NASCAR at Universal Technical Institute in Mooresville.
Thursday night Concord City Council will hold a public hearing on plans to expand the new General Motors-owned F1 racing team and build a manufacturing facility to make their Cadillac racing engines right next to the Hendrick Motorsports campus off Bruton Smith Boulevard on Defender Way in Concord.
Concord Mayor Bill Dusch sent Queen City News the following statement:
“Fueled by Hendrick Motorsports’ continued diversification and investment in our community, Concord has quickly established itself as a leading destination for innovation and advanced manufacturing. We are proud of our deep racing roots and thrilled to usher in a new era of Formula 1 racing in America with cutting-edge research and development taking place right here in Concord with Hendrick Motorsports. The projected combined investment of as much as $155 million means more opportunities not just for race fans, but for residents as the project is expected to create over 300 new jobs with average wages over $100,000.“
The city council agenda says the city is considering more than $740,000 in tax reimbursements over three years for the project.
“It’s very competitive to get a job or a career in motorsports,” said Dodson.
He would know. He’s a former race car builder.
“We won the NASCAR championship in 1989 with Blue Max Racing and Rusty Wallace,” said Dodson.
Dodson then went on to design the NASCAR program at the Universal Technical Institute in Mooresville. They teach automotive technicians how to build race cars.
“Then you can take the NASCAR program, it’s a lot of gearheads, they love speed, they love high performance, and then you can take that into many careers,” said Dodson.
At the NASCAR Technical Institute, students get to build and test racing engines, just like the ones that they’ll be building at the proposed Formula 1 racing facility in Concord.
“They’re coming here because of the resources; they’re building next to the racetrack,” said Dodson.
He also hopes they can add the new F1 team to the long list of places where their graduates end up.
“I’m very confident that they’ll be reaching out to us and hopefully we’ll be able to fill that pipeline when there’s a need,” said Dodson.
The F1 facility could open in early 2027.
Concord City Councilmember JC McKenzie sent Queen City News the following statement:
“The proposed facility to develop and test the new Cadillac Formula 1 engines is a tremendous win for Concord and Cabarrus County. The proposed investment of approximately $150 million for the building and upfit for equipment is yet another significant addition to advanced, high end manufacturing in Concord. The Hendrick Motorsports and manufacturing campus in Concord is a world leader and valued partner for Concord’s economic development. This project alone will add approximately 300 – 350 highly skilled jobs with an average salary approaching $125,000 per year.”
