Hendrick Motorsports is proposing a $35 million investment to develop a 260,000-square-foot manufacturing facility adjacent to its Concord campus.

The Charlotte Business Journal reports that the town has proposed incentives for the project, which are valued at $124,950.

The facility is expected to be developed on a 27-acre site at 4295 Defender Way NW in Concord. The site is less than two miles from Charlotte Motor Speedway.

Assuming the project moves forward, it would join two other recent advanced manufacturing investments from Hendrick Motorsports in Concord.

The first project, announced in January 2023, called for a $15 million investment. Hendrick was also plotting a speculative advanced manufacturing facility of 269,500 square feet. The city also incentivized the project, which appears to be similar to the most recent proposal.