Title
Public Hearing - Business Location and Expansion - AVERITT EXPRESS, INC.
Action
ACTION:
1) Open public hearing to receive comments on a proposed Business Investment Program grant to AVERITT EXPRESS, INC.
2) Close public hearing.
3) Approve a resolution for a 5-year, 50% Business Investment Program Grant to Averitt Express, Inc. for a not-to-exceed amount of $2,876,000 and to authorize the County Manager to negotiate and execute the contract.
Staff Contact: Clay Andrews, Economic Development Manager, Office of Economic Development
Presentation: Yes
BACKGROUND/JUSTIFICATION:
AVERITT EXPRESS, INC. was founded in 1971 and is headquartered in Cookeville, Tennessee. The company is a freight transportation, logistics, and supply chain management provider with an international reach serving more than 100 countries. It currently operates a 40,000-square-foot, 103-door facility at 3708 Westinghouse Boulevard in Mecklenburg County and employs 182 people at that location.
To support continued growth and expand its regional presence, the company has acquired land near Beam Road and Shopton Road for the potential development of a larger regional campus. The proposed expansion would support a broader range of business functions, including sales, safety, operations, and a training center. This will position the company to strengthen its logistics footprint in the Charlotte-Mecklenburg market.
This investment reflects the company’s long-term commitment to the area and its intent to increase its existing operations in Mecklenburg County through expanded facilities and employment-supporting functions.
AVERITT EXPRESS, INC.'s proposed project meets all the following grant guidelines for a 5-year Business Investment Program Grant, specifically:
• A taxable investment of $239,139,520 to be completed in the next five years.
• Creation of 211 new jobs with an average wage of $81,769 (which is equal to or greater than 100% of the average SOC codes for each job position for the Charlotte-Gastonia-Rock Hill M.S.A.).
• There is competition for this project from York County, SC.
The general terms and conditions of this grant include:
• A portion of the grant must be repaid if the company moves this investment from Charlotte within 5 years of the end of the grant term.
• Actual grant payments are based on the value of the investment as appraised by the Mecklenburg County Tax Office.
• All property taxes due from the company must be paid before a grant payment is made.
The Board of County Commissioners indicated its intent to approve this grant in a closed session on 04/21/2026.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
Business Investment Grant Account: first estimated payment would be in FY28