MECKLENBURG COUNTY, N.C. — Incentives for a new Lowe’s global technology hub in Charlotte’s South End neighborhood will likely total more than $72 million, according to updated figures obtained by the Charlotte Business Journal.
Last week, the Mooresville-based home-improvement retailer disclosed plans to bring 2,000 jobs here as part of a project that includes becoming the sole office tenant in a 23-story office tower scheduled to open in 2021.
State government confirmed last week Lowe’s Cos. Inc. could receive up to $56.1 million over a 12-year period, based on a pledge to create 1,612 new jobs in North Carolina. Job development grants would account for all but $2 million of the state incentives.
On Tuesday, Mecklenburg County and the city of Charlotte — neither of which had publicly disclosed its commitments — told CBJ that combined local incentives would be in the range of $16.2 million.
Of that amount, $10.2 million would come from the county and $6 million from the city. Spokespersons for county and city government both said those figures could change before the Mecklenburg commissioners board and City Council make a final decision.
Read the full story here to see how incentives for Lowe's stack up to those offered in other companies' high-profile expansions and relocations.
Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/LH3JSJEF3VBLRJLJQESEAG34AM.png)
