Advance Auto Parts Invests More Than $5 Million in Raleigh, North Carolina, Corporate Support Center
“We’re proud to partner with Advance Auto Parts to bring more high-paying management jobs to our state,” said Governor Pat McCrory. “This announcement is further evidence that North Carolina’s economy is growing and that we are serious about investing in our workforce.”
In January 2014, Advance Auto Parts completed its acquisition of General Parts International, Inc. which had its corporate headquarters in Raleigh. The acquisition created the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.3 billion.
“We are pleased to partner with North Carolina and we are delighted that Raleigh, along with Roanoke, Virginia, will be part of our effort to organize our corporate operations around two Store Support Centers in the Southeastern United States. These locations will play an important role in our efforts to serve our customers, drive profitable growth and support the needs of the communities in which we operate,” said Darren R. Jackson, CEO of Advance Auto Parts.
“We remain focused on North Carolina’s commitment to economic development,” said Commerce Secretary Sharon Decker. “This location will give Advance Auto Parts the ability to centralize functions and work to create an efficient and effective corporate organization and positions the company for continued profitable growth.”
The project was made possible in part by an award to Advance from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant. Under the terms of the company’s JDIG award, Advance is eligible to receive up to twelve annual grants equal to 75 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over twelve years, the JDIG award could yield aggregate benefits to Advance of over $17.4 million.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, NC Community College System, NC Works, Wake County, City of Raleigh, and Wake County Economic Development.
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