Published 6 days ago • loading... • Updated 5 days ago

Council OKs Formula 1 team to build facility

Summary by The Independent Tribune

The city of Concord continues its strong motorsports presence, as the city council on Thursday approved a three-year 85% grant for limited liability company Motorsport IP Acquisition Co. to develop an engine site for its Cadillac F1 vehicles.

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The Independent Tribune

Council OKs Formula 1 team to build facility

5 days ago

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The Charlotte Observer

Formula 1 team plans $85M facility in heart of NASCAR country

Concord City Council gave approved nearly $744,000 in tax incentives over three years for limited-liability company Motorsport IP Acquisition Co. I, which plans to develop an engine factory for its Formula 1 Cadillac F1 vehicle. Cadillac F1 plans to invest between $75 million to $85 million in its new facility creating up to 350 jobs.

6 days ago·Charlotte, United States

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