CONCORD, N.C. -- During an uneasy seven weeks of threats to drive Lowe's Motor Speedway out of Concord, speedway owner Bruton Smith discovered what the track meant to so many.

“I think I was influenced by a lot of the people, the phone calls, the things I was reading about, that people wanted the speedway badly," Smith said.

And thanks to an $80 million city, county and state incentives package, Smith is keeping the half-century speedway tradition in Cabarrus County.

"I'm delighted that this decision has been reached,” Smith said. “I will tell you, we are here forever.”

Smith said he'll use as much as $200 million from his own pocket to upgrade the speedway. Improvements are likely to include new stadium seating in the front stretch, a new marquis sign and suite renovations inside the Speedway Club.

"We have now solidified our place in motorsports for the whole United States," said Smith.

The speedway owner also said work on a $60 million drag strip project will continue, with its completion scheduled for September.

"As far the architects and engineers, they were working on it today, so you'll see us building rapidly," Smith said.

Meanwhile, local and state dollars will cover road improvements around the speedway, including the widening of Morehead Road and Speedway Boulevard, which will be renamed Bruton Smith Boulevard. Concord area leaders were vague on how they'll pay for the road improvements, or if taxes will be used.

"It's going to go towards public infrastructure improvements that every resident in Cabarrus County and every visitor that comes to Cabarrus County will be able to use freely," commission chairman Bob Carruth said.

Of the $80 million incentive package, $30 million will come from the city of Concord, another $30 million from Cabarrus County and $20 million from the state of North Carolina.