Nascar has a big presence here in Charlotte. But the racing industry is struggling: ticket sales declined 38 percent over the last five years, according to the Charlotte Observer, and the downturn is having a spin-off effect on businesses that make products for race cars, drivers and fans.
We visited Paul and Colleen Matte, husband and wife co-owners of Thermal Control Products, one of the many companies in the Charlotte area that supports Nascar and motor sports. They’ve had to lay off five workers in the last month, even after diversifying in order to stay afloat.
- Colleen and Paul Matte, co-owners of Thermal Control Products
- Adam O’Daniel, finance editor of the Charlotte Business Journal