Today, Gov. Roy Cooper and County leaders announced the relocation of Honeywell’s global headquarters to Charlotte in 2019. This move will bring 750 new executive function jobs to Mecklenburg County over the next five years with a total annual payroll of $250 million. Honeywell’s current headquarters is located in Morris Plains, N.J. Honeywell’s decision is subject to the recently passed Job Development Investment Grant (JDIG) legislation becoming law and the final award of state and local incentives.
Mecklenburg County is supporting the investment through a Business Investment Program (BIP) grant of $28 million over 15 years, making this the largest BIP grant the County has ever offered. The County estimates an additional $51 million in net revenue over the 15-year grant.
The company’s relocation to Charlotte will be facilitated through a Job Development Investment Grant (JDIG) upon final approval by the State’s Economic Investment Committee. The state estimates that the project will grow the state’s economy by an estimated $7.9 billion over 12 years.
“This is a huge win for Mecklenburg County,” said Ella B. Scarborough, chair of the Board of County Commissioners. “We are delighted to welcome the new employees of Honeywell to our community. This is a rare occasion and we are proud to have been able to secure one of three Fortune 100 company headquarter relocations that have occurred over the last 18 years.
“This will have a significant impact on our community," Scarborough added. “Honeywell’s presence will also serve as recruiting tool that could attract other companies and new residents to our area.”
This project is a collaborative effort between the North Carolina Governor’s Office, North Carolina General Assembly, the North Carolina Community College System, Mecklenburg County, City of Charlotte, Charlotte Chamber of Commerce, North Carolina Department of Commerce and the Economic Development Partnership of North Carolina.
Honeywell is a Fortune 100 company that creates and manufactures technology solutions to address worldwide industry challenges around energy, safety, security, productivity and global urbanization. The company connects physical products with software that helps improve buildings, factories, utilities, and aircraft. The company had $40.5 billion in sales in 2017.
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