Bruton Smith to Concord: ‘We’re here forever’

A news conference Monday touting billionaire Bruton Smith's decision to keep Lowe's Motor Speedway in Concord, N.C., was long on congratulations and short on details about $80 million in incentives given to Smith by the city of Concord. But after nearly two months of anxiety over the track's fate – which Smith disclosed last week – Smith turned to Concord Mayor Scott Padgett at the news conference and said, "Mayor, I'll tell you, we're here forever."

Smith stressed that he had been seriously considering moving his track out of Concord.

He first threatened to move elsewhere in the Charlotte region last month, after the Concord City Council initially thwarted his plans to build a $60 million drag strip. Council members said they had little information about the project and heard of neighbors' concerns about noise.

But city leaders quickly backpedaled from their opposition in the face of Smith's assertions.

"We took it very seriously," said John Cox, head of the Cabarrus County Economic Development Corp.

Cabarrus leaders quietly put together the incentive proposals this month, based in part on a "wish list" from Smith. ThatsRacin