AG 2005 10 17 - Laserfiche WebLink

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4 Net New Investment Wight Lightning will be makjng a very substantial new investment in the Concord, North Carolina community. The ecol1omic breakdown is as follows: . !=d, .h.ll building and .it. d.v.lopm.nt I la, 6+5, 000. 00 . Offic., ground 1100r I aoo, 000. 00 . Office, me:zza.nine I _,000.00 . R.ta.ill Gall.ry, m.zzanin. I 7+0,000.00 . R.ta.ill Gall.ry. ground 1100r I 500,000.00 . Part. and .upply, ground flooT I 115,000.00 . Car Pr.p ar.~ I +aa, 500. 00 . Dyno and Engin. .....mbly I 210.000.00 . Pa.int and Body I +5,500.00 . TrUl.:lport and Expo.nsion I 200,000,00 . Fixtur.. and Equipm.nt I 1,500,000.00 . !=doa.ping S 125.000.00 . Sigmg. I ao,ooo.OO S\1'btot~u; : J$ ,2$$ ,000 ,00 The above represents the initial!investment costs in materials and equipment. Every attempt will be made to utilize the resource~ and services of Concord and other North Carolina businesses to facilitate the completion of this project. Conclusion At this time, Wight Lightnin$ is actively negotia~g a Letter of Intent with Trans Am Corporation subject to the aw","ding of incentives by state and local government. Tangible financial economic assistance wlll be needed to facilitate financing and make the project viable. Wight Lightning would like toltake advantage of any and all tax increment fmancing and tax credits that are available to achjeve the completion of this project. This development provides many economic and employme"t opportunities for the State of North Carolina. It is in the best interests of Wight Lightning an!! the State of North Carolina' to work together to achieve our goal to build a flrst class stock car racing headquarters in the Concord, North Carolina community. Wight Lightning intends to inve~t in a long term relationship with the Concord community and its residents and will be a major "set to the area for many years to come. Q.-2-