Title
Public Hearing and Decision on Averitt Express, Inc. Business Investment Grant
Action
Action:
A. Conduct a public hearing regarding approval of a City of Charlotte Business Investment Grant to Averitt Express, Inc., and
B. Approve the city’s Business Investment Grant to Averitt Express, Inc. for a total amount not to exceed $2,898,710 over five years.
Body
Staff Resource(s):
Alyson Craig, City Manager’s Office
Shahid Rana, Economic Development
Matt Dufore, Economic Development
Explanation
§ On April 29, 2026, Averitt Express, Inc. announced it would open a new regional campus in Charlotte.
§ This action is requesting a public hearing be conducted regarding City Council approval of a Business Investment Grant (BIG) of $2,898,710 over five years.
§ On April 13, 2026, City Council, in closed session, indicated intent to approve this BIG.
§ Averitt Express, Inc. has committed to a capital investment of $239,139,520 and creation of 211 jobs to be hired with an average wage of $81,769.
Background
§ Averitt Express is a leading supply chain and logistics provider founded in 1971, operating in more than 100 locations across the Southeast.
§ Averitt Express has a strong record maintaining active partnerships with high schools, community colleges, and universities across its national footprint, including participation in career fairs, workforce readiness events, program collaborations, career-focused classroom engagements, and giving facility tours, among other activities.
§ Averitt Express is heavily invested and committed to creating accessible entry points into the organization and offers strong long-term career pathways.
Business Investment Grant
§ Actual grant payments are based on the value of the investment as appraised by the Mecklenburg County Tax Office.
§ Property taxes due from Averitt Express, Inc. must be paid before grant payment is made.
§ If Averitt Express, Inc. removes the investment from Charlotte during the grant term, it shall pay back 100 percent of the investment grant paid to date.
Fiscal Note
Funding: Business Investment Grant