Title
Public Hearing for AVL USA Inc. Business Investment Grant
Action
Action:
A. Conduct a public hearing regarding approval of a City of Charlotte Business Investment Grant to AVL USA Inc., and
B. Approve the city's Business Investment Grant to AVL USA Inc. for a total not to exceed amount of $655,157 over five years.
Body
Staff Resource(s):
Shahid Rana, Economic Development
Matt Dufore, Economic Development
Explanation
* On May 23, 2025, AVL USA Inc. announced it would open its first U.S.-based mobile machine manufacturing plant in Charlotte.
* This action is requesting a public hearing be conducted regarding City Council approval of a Business Investment Grant (BIG) of $655,157 over five years.
* On May 19, 2025, City Council, in closed session, indicated their intent to approve this BIG.
* AVL USA Inc. has committed to a capital investment of $56,015,800 and creation of 326 jobs to be hired with an average wage of $76,052.
* In addition to the City of Charlotte BIG, Mecklenburg County Board of County Commissioners approved a BIG in the amount of $641,506.
Background
* AVL USA Inc. has two parts; the Equipment Group specializes in advanced stationary and mobile machines for industrial use, including Caterpillar products, and the CIMCO branch specializes in refrigeration equipment.
* AVL USA Inc. and Toromont USA Inc. are under Toromont Industries Ltd. Company based in Canada.
* This location will house production and assembly of generator enclosures for power redundancy.
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 AVL USA Inc. must be paid before grant payment is made.
* If AVL USA Inc. removes the investment from Charlotte during the grant term, it shall pay back 100 percent of the investment grant paid to date.
* If AVL USA Inc. moves the investment from Charlotte within ten years of the end of the Business Investment P...
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