Title
Public Hearing H-T-L perma USA LP Business Investment Grant
Action
Action:
A. Conduct a public hearing regarding approval of a Business Investment Grant to H-T-L perma USA LP, and
B. Approve the City's share of a Business Investment Grant to H-T-L perma USA LP for a not to exceed amount of $111,931 over five years.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Alyssa Brown, Economic Development
Explanation
* On June 2, 2022, H-T-L perma USA LP (H-T-L perma) announced it would expand its existing headquarters and production operations in Charlotte.
* During the week of November 8th, 2021, City Council, in Closed Session, indicated their intent to approve this Business Investment Grant (BIG).
* H-T-L perma has committed to a capital investment of $7,450,000 and creation of 24 jobs to be hired over five-years with an average wage of $54,688.
* In addition to the 24 new jobs, the company's 58 current positions will be retained for the term of the grant.
* Mecklenburg County Board of County Commissioners approved a BIG in the amount of $110,201 on November 16, 2021.
* The State of North Carolina also approved an On the Job Training Grant in the amount of $100,000 and $33,600 in community college training funds.
Background
* H-T-L perma is an advanced manufacturing company that offers single-point automatic lubrication.
* H-T-L perma is an international company that has development and production facilities in Germany.
* The Americas' headquarters was established in Charlotte in 1995 and offers innovative and creative lubrication solutions to electric motors, conveyors, fans, and pumps.
* The company's current headquarters and production facility is located in Southwest Charlotte in Council District 3.
* H-T-L perma has a robust internal six- to 24-month training and mentorship academy that upskills employees through basic, intermediate, and advanced training.
* The new office and production facility will allow the company to increase t...
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