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CHARLOTTE'S WEB BECOMING EPICENTER OF RACING INDUSTRY

          The Charlotte Motor Speedway (CMS) has become the
     "preeminent racing facility in the country, second perhaps
     only to Indy, and that's primarily on historical value,"
     according to Steve Goldberg of CHARLOTTE magazine.  The
     development of the track has "permanently changed the
     spectator and business sides of racing," creating a "new
     growth-industry base for the region with significant
     economic impact."  The success "is directly attributed" to
     parent company Speedway Motorsports "high-octave mixture of
     innovation and emulation," and since '75, track owner Bruton
     Smith and CMS President Humpy Wheeler have spent "more than"
     $200M on improvements.  Wheeler says the key to CMS' success
     is the "three T's: tickets, traffic and toilets."  According
     to a '96 study by UNC-Charlotte, CMS "is the nucleus of a
     local industry that has grown over" 48% in the past five
     years.  In the area, 135 motorsports-related firms have
     created 1,790 jobs, with a payroll of $71.4M and $207M in
     direct expenditures, and an additional 3,347 jobs and "some"
     $258M in indirect expenditures (CHARLOTTE, 10/97).

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