Albemarle Corporation Plans Mecklenburg County, North Carolina, Research Facility
12/15/2022
The new facility will develop advanced materials research, process improvement approaches, and innovations to bring to market the next generation of products in the lithium and battery markets.
“Albemarle appreciates the support from the State of North Carolina and the City of Charlotte for this exciting project," said Kent Masters, Albemarle CEO. "The Albemarle Technology Park is an important piece of our journey to develop advanced energy storage technologies that power our future."
The project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of 12 years, the project is estimated to grow the state’s economy by $644.5 million. Using a formula that takes into account the new tax revenues generated by 205 new jobs, the agreement authorizes the potential reimbursement to the company of up to $1,239,000, spread over 12 years.
Payments for all JDIGs only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Because Albemarle chose a site in Mecklenburg County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $413,000 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business.
"North Carolina’s momentum in electric vehicles, battery production, and related industries is truly remarkable,” noted Commerce Secretary Machelle Baker Sanders. “It’s a pleasure to see this latest vote of confidence in our state from a world-class company like Albemarle.”
Albemarle Corporation engages in the development, manufacture, and marketing of chemicals for a variety of markets, including energy, electronics, transportation, construction, pharmaceuticals, and agriculture, among others.
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC), other key partners on this project were the North Carolina General Assembly, the North Carolina Community College System, Mecklenburg County, the City of Charlotte, University City Partners and the Charlotte Regional Business Alliance.
Project Announcements
Lactalis USA Upgrades Walton-Buffalo, New York, Production Operations
07/18/2025
Brawo USA Forges Expands Laurens County, South Carolina, Operations
07/18/2025
Rolls-Royce Solutions America Expands Graniteville, South Carolina, Assembly Operations
07/18/2025
Aerial Machine & Tool Corporation Expands Patrick County, Virginia, Operations
07/18/2025
Meridian Biotech Plans Franklin County, Kentucky, Aquaculture Product Operations
07/18/2025
Module Design Expands Allegheny County, Pennsylvania, Operations
07/14/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
In Focus: AI Is Changing Incentives Math
Q2 2025
-
How to Choose the Right Site for Your Factory in 2025’s Volatile Landscape
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
First Person: David Robey, Co-CEO of QTS Data Centers
Q2 2025
-
Manufacturing’s New Risk Game for Site Selection
Q2 2025