Title
Business Location and Expansion - MAERSK AGENCY USA, INC.
Action
ACTION:
1) Open public hearing to receive comments on a proposed Business Investment Program grant to MAERSK AGENCY USA, INC.
2) Close public hearing
3) Adopt a resolution approving a 7-year, 75% Business Investment Program grant to MAERSK AGENCY USA, INC. for a not-to-exceed amount of $357,996 and 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:
A.P. Moller - Maersk, usually known simply as Maersk, is a Danish shipping and logistics company founded in 1904 by Arnold Peter Moller and his father Peter Maersk Moller.
Maersk's business activities include port operations, supply chain management, warehousing, and air freight. The company is based in Copenhagen, Denmark, with subsidiaries and offices across 130 countries and employs over 100,000 employees worldwide.
This location will serve as its US Headquarters and will house key functions such as finance, human resources, legal, commercial strategy, and technology.
MAERSK AGENCY USA, INC.'s proposed project meets all the following grant guidelines for a 7-year Business Investment Grant, specifically:
• A taxable investment of $16,000,000 to be completed in the next five years.
• Creation of 520 new jobs with an average wage of $115,227 (which is equal 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 Atlanta, GA.
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 7 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 11/05/2025.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
Business Investment Grant Account: first estimated payment would be in FY28.
FISCAL IMPACT:
N/A