Report said N.C. could lose race teams
It suggested jet fuel tax break for motorsports.
Saturday, Mar. 28, 2009
The Golden Leaf Foundation and the N.C. Rural Center paid $140,000 for two reports about car racing in North Carolina, produced in 2004.
Both organizations are supported by state money. The Golden Leaf Foundation is controlled by appointees of the governor and legislative leaders.
One of the reports was an analysis by UNC Charlotte that said racing is big business in North Carolina, accounting for more than 24,000 jobs and $5 billion in spending.
The second was handled by the Sanford Holshouser Business Development Group.
The Sanford Holshouser report called motorsports in North Carolina an industry “under threat” from nearby states trying to lure teams away. The report recommended a range of measures – including legislation – to protect racing teams.
But the report itself made clear that most teams were not going anywhere: “Virtually every NASCAR team interviewed … indicated that it is unlikely that they would move from their current locations for now.”
A key piece of potential legislation highlighted in the report was a tax break on corporate jet fuel that would later become law. The report said 10 racing teams, including Hendrick Motorsports, were asked what could help them grow.
“(O)ne answer was almost always mentioned first, and mentioned emphatically,” the report says. “That answer was, ‘help us reduce the cost of our aircraft operations.'” One suggestion was to also exempt aircraft from property taxes, which hasn't happened.
In an e-mail, former Gov. Mike Easley said he didn't talk about it with Rick Hendrick.
“Hendrick never showed much interest in the issue and never talked with me about it,” Easley wrote.
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