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Electrolux plans $14M expansion in Charlotte

Electrolux will spend $14 million to expand its North American headquarters in Charlotte, adding 200 jobs in the city over the next four years, Gov. Beverly Perdue said today.

As part of the expansion, the company is consolidating U.S. positions in Charlotte at the headquarters on David Taylor Drive in University Research Park.

The average for the new jobs will be $90,150 a year, not including benefits. Mecklenburg County’s average annual wage is $51,584.

Stockholm-based AB Electrolux makes appliances and cooking equipment. Electrolux, Frigidaire and Eureka are among its brands.

In 2009, the company consolidated its North American headquarters in Charlotte.

To fund Electrolux’s expansion, the state has awarded it a $325,000 grant from the One North Carolina Fund. Under the program, no money is paid upfront; companies must meet job creation and investment targets to receive payments.

One North Carolina Fund grants also require a match from local government.

Also, the state Economic Investment Committee today voted to award a Job Development Investment Grant to Electrolux. Under the terms of the program, Electrolux is eligible to receive a grant equal to 75 percent of the state personal income withholding taxes generated by the creation of new jobs for each of the 12 years in which the company meets annual performance targets. If Electrolux meets those targets, the grant could yield up to $6.9 million in benefits for the company.

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