AXA Expands Operations In Charlotte, North Carolina
“AXA looks forward to growing in Charlotte, and we appreciate the support from the state of North Carolina, the city of Charlotte and Mecklenburg County,” said Mark Pearson, Chairman, President & CEO Officer of AXA US. “We know from our experience that Charlotte is a great place to attract a talented workforce, allowing us to grow our business and better serve our customers.”
AXA’s expansion in Mecklenburg County will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Under the terms of the JDIG, the company is eligible to receive up to $11.8 million in total reimbursements.
Payments will occur in annual installments over 10 years pending verification by N.C. Commerce and N.C. Revenue that the company has met incremental job creation and investment targets. JDIGs reimburse new and expanding companies with a portion of the newly created tax-base while still increasing the overall revenue benefit to the state of North Carolina.
“Financial services companies like AXA have found a fertile environment for their operations in the Charlotte region, where they can attract talent and grow their business,” said Governor Roy Cooper. “We’re glad that this global financial protection company will be expanding again and establishing a regional headquarters in our state.”
“AXA is just the kind of financial services company with a global customer base that fits well with the diverse and talented workforce located in Mecklenburg and surrounding counties,” said North Carolina Commerce Secretary Anthony M. Copeland.
“We work hard to ensure that North Carolina-based companies strongly consider staying close to home when they are ready to expand,” he added.
AXA will bring a variety of jobs to Charlotte, including IT, finance, legal, accounting, customer service, HR and other functions that will support growth of the company’s business.
By law, JDIG projects must result in a net revenue inflow to the state treasury over the life of the award. For projects in Mecklenburg and other Tier 3 counties, 25 percent of the eligible grant is directed to the state’s Industrial Development Fund – Utility Account to help finance economic infrastructure in rural counties. The AXA expansion could provide as much as $3.94 million in new funds for the Utility Account to help rural areas.
Partnering with N.C. Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, Mecklenburg County, City of Charlotte and the Charlotte Chamber.
2022 Top States for Doing Business Provide an Environment for Business Growth
2022 Top States Workforce Development Programs
The New Industrial Ecosystem
The 2021 Top States for Doing Business Reflect Their Locational Advantages
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Major Projects: Embrace Wide Open Rural Spaces
Area Development’s 17th Annual Shovel Awards Recognize State and Local Economic Development Efforts — First Two Platinum Shovels Awarded