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finance infrastructure within and around the Development District to support the Research Campus. The
<br />City of Kannapolis planned to issue up to $108 million in bonds in the fall of 2008 to finance public
<br />infrastructure in the Development District, but market conditions precluded their issuance at that time.
<br />The City of Kannapolis is currently exploring the issuance of a lesser amount of bonds. The boundaries
<br />of the Development District were created to capture the area in which such infrastructure is needed. The
<br />Research Campus is approximately 240 acres within the Development District. The development plan for
<br />the Development District contemplates that, when completed, the Research Campus will include more
<br />than 2 million square feet of office and laboratory space, 600,000 square feet of new retail and
<br />commercial space, 400,000 square feet of academic and civic space and approximately 1,100 new
<br />residential units.
<br />Entertainment. Another example of the County's diverse economy is Charlotte Motor Speedway
<br />( "CMS'), a major sports and recreational facility which regularly hosts activities that draw over 167,000
<br />people. Each year, CMS hosts nine primary events, including three major NASCAR racing events that
<br />extend over a ten -day period for each event. Facilities at CMS include a seven -story office building and
<br />conference center topped by a restaurant and private club. Recent expansions include additions to
<br />grandstand seating, a new infield media center and several RV spaces located between the grandstands
<br />in turns one and two. Z -Max Drag way at Concord, a $60 million drag strip facility that is located on CMS
<br />property, has hosted several events, including four NHRA- sanctioned events, since opening in 2008.
<br />The City of Concord and Embassy Suites Hotels constructed a new Convention Center and full -
<br />service hotel on Speedway Boulevard. This complex is located equidistant between CMS and the
<br />Concord Mills Mall. Other hotels also have located in this area, adding over 3,000 new rooms to the
<br />County's hotel inventory.
<br />Motorsports. The County is home to CMS, NASCAR Research & Development, World Racing
<br />Group, the DIRT Track at CMS, Concord Motorsports Park, Motorsports Radio Network, Z -Max Drag way,
<br />four driving schools, Hendrick Motorsports, Roush Fenway Racing, Earnhardt Ganassi Racing with Felix
<br />Sabates, Stewart-Haas Racing, ST/Wood Motorsports /JTG Racing and over 200 other motorsports-
<br />related businesses.
<br />Recent developments involving motorsports businesses include Windshear, a California -based
<br />company, which has built a $40 million wind tunnel which is the only publicly available wind tunnel in
<br />North America using "rolling road" technology. This facility allows for full -scale testing of race cars at
<br />speeds of 180 miles per hour. ST/Wood Motorsports recently relocated its operations to a 123,000
<br />square -feet building in Harrisburg. Stewart-Haas Racing opened a state -of- the -art, 140,000 square feet
<br />racing facility which doubles the size of its former facility. JHE Productions relocated to the Harrisburg
<br />area near the Saddle Creek facility and is operating out of a new 46,000 square foot building.
<br />Retail. Concord Mills Mall, which is located on approximately 165 acres located at the exit 49
<br />interchange of 1 -85, opened its doors in September 1999. The 1.4 million square foot facility has over 200
<br />stores, cost approximately $240 million to complete and is generating an estimated $300 million annually
<br />in retail sales. Concord Mills Mall is the State's largest tourism draw and continues to create additional
<br />spin -off retail development on adjacent properties. Additional projects have been built, including a Wal-
<br />Mart and Lowe's, which makes the area a primary retail center for the entire MSA.
<br />There are a number of new retail centers that have been constructed or are under construction
<br />throughout the County as a result of the population increase that has occurred. Some of these are part of
<br />much larger mixed -use developments that also include services, employment and residential uses. For
<br />example, the Northlite Center, in the northern part of the County, is anchored by Sam's Club, Wal -Mart
<br />and Kohl's. Harrisburg Town Center is a 100 -acre mixed -use development on Highway 49, which
<br />includes 400 residential units, all of which have been completed, and up to 500,000 square feet of office
<br />and retail space; several of the office /retail buildings are complete. Additionally, there are several
<br />restaurants and a grocery store located in the Town Center. Multiple grocery- anchored centers have also
<br />been developed near key intersections.
<br />Industrial and Business Parks. A variety of other industrial and business parks located
<br />throughout the County have provided additional focus points for economic development. For companies
<br />investigating new operations or expansions in the Charlotte area, these parks provide alternatives to sites
<br />in Charlotte or Mecklenburg County. Public utility service is widely available to these parks. Following
<br />are brief descriptions of several of these parks.
<br />G -2 Page 488
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