Plans from Rockingham Automotive which will see the car park and land at Rockingham Motor Speedway, on Mitchell Road in Corby, used for automotive logistics, have been approved by East Northamptonshire Council.
The site, which currently consists of a 1.48 mile race track, spectator stands, pit garages and staff sand customer welfare facilities, will mainly be used for the storage of fleet vehicles and parts and the refurbishment of vehicles, which will be done in the existing pit garaging. Occasional vehicle auctions will also take place.
No new buildings are to be constructed but the plans will see the speedway stands removed.
Up to 200 jobs could be created.