Title
Public Hearing for Arrival Automotive USA Inc. Business Investment Grant
Action
Action:
Conduct a public hearing regarding approval of a City of Charlotte Business Investment Grant to Arrival Automotive USA Inc.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Frances West, Economic Development
Explanation
* On March 17, 2021, Arrival Automotive USA Inc. (Arrival) announced it would expand its existing operations in Charlotte to include their first United States (U.S.) electric van microfactory in West Charlotte.
* This action is requesting a public hearing be conducted regarding City Council approval of a not to exceed Business Investment Grant (BIG) of $657,094 over seven years.
* During the week of February 22nd, City Council indicated their intent to approve this Business Investment Grant during council discussions.
* On March 2, 2021, the Mecklenburg County Board of Commissioners, in closed session, indicated its intent to approve a BIG with a maximum value of $906,824 over five years.
* Arrival has committed to a capital investment of $41,200,000 and creation of 281 jobs to be hired over two years with an average wage of $42,171.
* In addition to the city and county BIGs, the State of North Carolina dedicated $1,200 to $1,400 per eligible employee in community college training funds.
* In compliance with North Carolina General Statute 166A-19.24 Remote meetings during certain declarations of emergency, written comments on the public hearing topic will be accepted by the Clerk's Office through April 27, 2021, at 11:59 p.m. Any additional comments received will be provided to City Council.
* On May 10, 2021, City Council will be asked to approve the BIG to Arrival.
Background
* Arrival is a global electric vehicle company headquartered in London focused on creating zero emission, sustainable transportation solutions.
* December 9, 2020, Arrival announced its North American headquarters in Charlotte with an investment of $3,000,...
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