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MegadealsSubsidy Tracker Individual Entry
Company: Lowe's Companies, Inc.
Parent Company:
Lowe's
Subsidy Source: multiple
Location: North Carolina
City: Charlotte
County: Mecklenburg
Project Description: global technology hub
Year: 2019
Major Industry of Parent: retailing
Specific Industry of Parent: retail-home improvement
Subsidy Value: $72,322,630
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy:
MEGADEAL (Archived)
Number of Jobs or Training Slots: 1,612
Wage Data: $117,972
Wage Data Type: Target Average Annual Wage
Capital Investment: $153,885,328
Source of Data: State subsidies, jobs commitment, investment and wages: One North Carolina Fund Quarterly Report to the Joint Legislative Commission on Governmental Operations, March 31, 2020
(click here) Job Development Investment Grant, 2019 Annual Report
(click here). Charlotte subsidy: Minutes of a Special Meeting/Business Meeting of City of Charlotte City Council, July 22, 2019
(click here). Mecklenburg County subsidy: Economic Development FY2020 Annual Report
(click here)
Notes: In exchange for building a technology hub, Charlotte, Mecklenburg County, and state of North Carolina offered Lowe's Corporation a subsidy package that included: $54,090,750 over 10-years from the state JDIG program; a $2 million grant from the state OneNC fund; $6,031,880 over 10 years from the city's Business Investment Grants; and up to $10.2 million from the county's Business Investment Program Grants. Overlap with main subsidy tracker data: a 2019 JDIG award for $54 million and 2019 One NC awards for $2 million.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.