Childress Technologies LLC, a new subsidiary of RCR Enterprises LLC, has been awarded a $150,000 state grant geared toward renovating a vacant Lexington building for a motorsports manufacturing operation.
The grant comes from the state Rural Infrastructure Authority. It is being provided to Davidson County to reimburse the Childress subsidiary.
In May, the affiliate of Richard Childress Racing paid $800,000 to buy a 24,960-square-foot warehouse building at 1660 E. Center St. Ext.
Richard Childress Racing is based at 425 Industrial Drive in Welcome.
According to the governor's office, the Childress subsidiary had pledged to create 21 jobs and make a private investment of $192,155 toward the project.
“This new venture underscores our state’s strength in motorsports and automotive equipment manufacturing, thanks largely to the resilient, skilled workforce and excellent quality of life found in rural North Carolina," Gov. Roy Cooper said in a statement.
People are also reading…
The subsidiary will develop and manufacture engine components for the major manufacturers associated with NASCAR, as well as other motorsports and automotive applications.
RCR Enterprises has been conducting research and development for the initiative at a leased facility in Indiana.
The authority approved Davidson's request as part of the state’s Building Reuse program.
The program provides grants to local governments to renovate vacant buildings, renovate and/or expand buildings occupied by existing North Carolina companies.
The goal is renovating, expanding or constructing facilities that will lead to the creation of new jobs in Tier 1 and Tier 2 counties, and in rural census tracts of Tier 3 counties. Under a state Commerce ranking, the 20 most prosperous counties are Tier 3, the next 40 counties are Tier 2 and the 40 most distressed counties are Tier 1.
“Since North Carolina is the birthplace of NASCAR and boasts the largest manufacturing workforce in the Southeast, our state is a natural home for growing manufacturers," Commerce Secretary Machelle Baker Sanders said in a statement.