Here is a question for the "real historians"

I was driving extensively around the UK all of last week on business, having not planned any specific motor-racing related activity ( apart from a long overdue pilgrimage to the Llandow circuit in South Wales, where I had my first ever experience of seeing live motor racing many, many years ago...) . However, motor racing history did come to me as I was entering the charming seaside town of Bexhill , just next to Hastings , where the entry sign to the town proudly carried the statement as per this thread's title.
Sorry if the matter has been discussed before, but is the claim legitimate, and please what is the complete story ?
Thank you