A variable speed drive mounted within a housing includes clutch means of the disc type operatively connected between input and output shafts and an interior support coupling member. The support coupling member comprises a stationary support extending from the housing and concentric bearings for mounting a center coupling therein. The center coupling receives the extreme inboard ends of the shafts to provide support thereof and it is operatively connected between the clutch means and the output shaft to transmit torque. The concentric bearings permit relative rotation between one of the shafts and the center coupling, and provide bearing support for both of the shafts within the stationary support member. An electronic control system is also provided for the variable speed drive which senses output errors and uses them to directly modulate the power signal to an electromagnetic clutch or brake component of the drive. The control system may be utilized to provide a variable speed drive with forward and reverse operation as well as a positive or retarding torque in either direction.