Subsidy 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 
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 https://files.nc.gov/nccommerce/documents/Policymaker-Reports/Gov-Ops-20... Job Development Investment Grant, 2019 Annual Report https://files.nc.gov/nccommerce/documents/Policymaker-Reports/2019-JDIG-.... Charlotte subsidy: Minutes of a Special Meeting/Business Meeting of City of Charlotte City Council, July 22, 2019 https://charlottenc.gov/CityClerk/Minutes/July%2022,%202019.pdf. Mecklenburg County subsidy: Economic Development FY2020 Annual Report https://www.mecknc.gov/edo/Documents/EconomicDevelopmentReport.pdf
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.
