Charlotte approves incentives for three relocations and expansions, including ACC headquarters
The Charlotte City Council on Monday approved incentives packages for three corporate relocations or expansions, including the Atlantic Coast Conference's headquarters relocation from Greensboro.
The tax breaks — which consist of property tax breaks — total more than $1.8 million and will support more than 100 new jobs. Here's a breakdown on what city leaders approved:
- Bosch Rexroth, a manufacturer whose U.S. headquarters are located in Charlotte, will receive $959,426 over seven years from the city. The company will retain its location in Charlotte and add a customer service and account operations center, creating an additional 24 jobs. The company's new jobs will pay an average wage of $67,016, and Bosch Rexroth will invest $48 million. Mecklenburg County and the state of North Carolina are also giving Bosch Rexroth almost $2 million in incentives.
- Solve Industrial Motion will receive $725,981 over seven years. The manufacturer will expand its Charlotte facilities with a new distribution center and headquarters, and add 60 jobs paying an average wage of $74,500. Solve says it will invest $34.9 million. The county and state are giving Solve an additional $575,872 worth of tax breaks.
- The ACC's headquarters move from Greensboro to uptown Charlotte next year will net the athletic conference a tax break worth just under $41,000 from the city. The county is giving the ACC a nearly identical amount. The ACC says it will bring 50 jobs paying an average wage of $95,000 and invest $4.9 million in its new headquarters.