Another day, another announcement about new jobs in North Carolina. Despite the down economy, there has been a flurry of economic development projects unveiled in recent months.
Today's installment: Swedish appliance maker Electrolux picked Charlotte for its new North American headquarters. The company plans to create 738 jobs over the next five years.
Electrolux will receive state and local tax breaks and incentives worth as much as $27 million if it meets its hiring and investment targets.
The company already employs about 650 people in North Carolina, mostly at a dishwasher manufacturing plant in Kinston. Electrolux is consolidating corporate offices from around the country into the new Charlotte headquarters.
One minor complaint from job seekers and economic boosters in the Triangle: It's another example of a corporation choosing Charlotte for its headquarters. Kevin Scott, chief executive of Electrolux North America, said he was impressed with the area's transportation network and the professionalism of economic development efforts by the city, county and state.
“I am convinced we have made a fantastic choice," he said.
Economic development officials in this region admit that Charlotte's airport is a selling point. Specifically, they warn that Raleigh-Durham International Airport doesn't have enough direct destinations, especially on the West Coast, to attract high-flying corporations and CEOs.
Charlotte also has seven Fortune 500 headquarters, compared to two in the Triangle (Raleigh-based Progress Energy and Cary-based The Pantry). Maybe there's something about CEOs wanting to drink beer and play golf with other CEOs?
Not that the Triangle is missing out on every new headquarters. On Monday, Louisiana risk-management consulting firm IEM said it will move its headquarters to Research Triangle Park and create 430 jobs.
But it does seem this region attracts more back-office projects, such as EMC's new data center and a technology operation Deutsche Bank opened this week in Cary.
Regional allegiances aside, the announcements are bright spots in a state where the jobless rate is 11 percent, above the national average.
Read a Charlotte Observer story about the Electrolux news here.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or
Comments
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Electrolux moving to Charlotte
Wed, 12/16/2009 - 16:48 — AJFoyt1966Here is an idea...how about the corrupt Eastern North Carolina cabal take about $800 million dollars in taxes a year out of Charlotte and send it to various pet projects on their side of the state. Thereby insuring Charlotte highways are supremely outdated and inadequate furthering hampering their ability to win deals like this. Oh..wait...Raleigh already does that.
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New Jobs
Wed, 12/16/2009 - 13:58 — landshark"Earlier this week, Louisiana risk-management consulting firm IEM said it will move its headquarters to Research Triangle Park and create 430 jobs." If you just look at the headlines, one might get the impression things about to get better, but wait, this is schedule to happen over the next 6 years! Yea, they have 6 years and million of our tax dollars, to hold and earn money with. 6 years from now when things don't work out (Dell) we might get our money back less the interest they earn! IEM, if you want to help NC, stay in Louisiana and we'll apply for jobs and move there!
The only people making any money here are the shareholders of IEM and the NC legislators!!!!