Charlotte City Council to Provide Incentives for Speed Channel

The Charlotte City Council is expected to approve a nearly one million-dollar grant this week to keep the Speed Channel in Charlotte.

Speed Channel currently headquartered in a building on Southern Pine Boulevard in charlotte wants to move its operation to the old Verbatim building on West W.T. Harris when its lease expires this coming January, but they want some help from the city and county government.

Speed is based in Charlotte on Southern Pine Boulevard, now they travel the world covering NASCAR and all kinds of motorsports, but as of January they will need a new home.

South Carolina has been trying to lure the network away but Speed wants to stay in Charlotte.

The network wants a combined city/county business grant of $967,000.

Under the plan, the network would buy the old Verbatim building. The channel also plans on adding 34 new jobs. There are already 79 jobs at Speed averaging $79,000 a year; the economic impact is expected to be $12 million a year. Cup Scene Daily