The County’s Office of Economic Development is pleased to announce the expansion of the Teguar Corporation. The company plans to build a new 20,000 square-foot state of the art facility in Mecklenburg County, within the city limits of Charlotte. This $5.5 million expansion will retain 29 existing jobs and bring 26 new jobs to the County over the next five years.
“We are happy to announce the retention and expansion of Teguar Corporation’s headquarters,” said George Dunlap, chairman of the Mecklenburg Board of County Commissioners. “We look forward to seeing Teguar continue to grow in Mecklenburg County, bringing new investment and diversified jobs in the tech sector.”
Upon approval from the Mecklenburg Board of County Commissioners, the County will support the investment through a Business Investment Program (BIP) grant in an amount not to exceed $82,587 over five years. The County estimates an additional $24,600 in sales tax revenue by the end of the grant term. The City of Charlotte, upon approval from the City Council, will support the company with a matching grant in an amount not to exceed $46,602.
“It’s always a great day for Charlotte when we can retain our homegrown companies and keep them thriving in the city where they started,” said Charlotte Mayor Vi Lyles. “Teguar Corporation is one of our success stories and a valued leader in the future of innovative tech advancements coming out of Charlotte.”
The State of North Carolina, with the support of the Economic Development Partnership of North Carolina, is providing funds through the North Carolina Community College System to develop customized training.
Teguar is a leading provider of high-quality industrial and medical computer systems. Teguar's products are designed to provide superior performance in the most demanding environments. The world’s most innovative companies work with Teguar to build their customized and reliable computer hardware. For a full overview of products and services offered visit www.teguar.com
Jonathan Staub, CEO of Teguar, said: “We are excited to expand into a custom designed facility which will enable continued growth. North Carolina is an ideal location for Teguar and a desirable place for new hires to move or continue to build their life here. Thanks to the Mecklenburg Board of County Commissioners and the Charlotte City Council for bringing favorable conditions for us to stay in North Carolina.”
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