Staff report
RALEIGH Gov. Mike Easley has announced that Motor Racing Network will relocate to Cabarrus County, creating 50 jobs and investing $2.15 million during the next three years. The announcement was made possible in part by a $50,000 One North Carolina Fund grant.
Motor Racing Networks relocation from Florida to North Carolina will be a strong addition to our $6 billion-a-year motorsports economy, Easley said.
More than 14,000 people are directly employed in the motorsports field, making North Carolina the No. 1 state in the nation for this industry.
MRN Radio is the primary source for NASCAR stock car racing and related radio programming. MRNs award-winning play-by-play coverage of the NASCAR NEXTEL Cup Series, NASCAR Busch Series and NASCAR Craftsman Truck Series is delivered via satellite to more than 700 radio stations nationwide plus the American Forces Radio Network. This makes MRN Radio the largest independent sports radio network in America. MRN Radio is a wholly owned subsidiary of International Speedway Corp.
MRN will relocate its operation from Daytona Beach, Fla., to Concord. While wages will vary by job function, the average weekly wage of the new jobs will be $1,045 plus benefits, which is higher than the Cabarrus County average weekly wage of $594, not including benefits.
For more than 35 years, MRN has thrilled listeners with our unique and innovative broadcast style, earning us numerous awards and developing legions of fans for the sport, said MRN President David Hyatt.
For us to further build on this track record of success and position the business for future growth opportunities, we are planning to move our headquarters to North Carolina. As home to a substantial number of major race teams involved in NASCAR, we view Cabarrus County as a great place for our company to relocate and expand our business in the years to come.
The One North Carolina Fund assists the state in industry recruitment and expansion by providing financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. One North Carolina Fund grants require and are contingent upon a local match. Through the use of this fund, more than 25,000 jobs and $3.5 billion in investment have been created since 2001.
Other partners who helped make this announcement possible include the N.C. Department of Commerce, Cabarrus County, Cabarrus Economic Development Corp. and the city of Concord. For more information about MRN, visit www.racingone.com/mrn_home.aspx.