Sealed Air and Spectra Group Bring 1,500 Jobs to Charlotte
- Jul 25, 2014
North Carolina Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker recently made two major announcements concerning Charlotte’s job market, which will grow by over 1,500 positions thanks to a corporate relocation and an expansion.
The biggest impact will be made by Sealed Air Corporation, a Fortune 500 company which will be relocating its corporate headquarters to Mecklenburg County in the Charlotte, N.C. area. The company, which boasted $7.7 billion revenues in 2013, will create 1,262 jobs in Charlotte by the end of 2017. Sealed Airs’ annual average salary will be $119,482, more than double the Mecklenburg County average salary, which currently stands at $59,046.
Sealed Air will relocate its Elmwood, N.J. corporate headquarters to Charlotte, as well as parts or the whole of its facilities in Saddle Brook, N.J., Danbury, Conn., Racine Wis. and Duncan and Greenville, S.C. Sealed Air will invest $58 million through a long-term lease with a third-party developer who will build a new headquarters tailored to company needs.
Sealed Air will benefit from several incentives, such as a state Job Development Investment Grant (JDIG) program award that could add up to $36.7 million in tax rebates over the course of 12 years. One North Carolina Fund is also granting a performance-based award of $2.5 million.
Although carrying a smaller economical footprint, Spectra Group Inc. is also making a splash in Charlotte’s job market with the addition of 250 new financial services jobs. Also hailing from New Jersey, Spectra Group’s first Charlotte location will add 250 jobs by the end of 2018 with above-average salaries of $84,996. The company will also benefit from a JDIG grant that could produce aggregate benefits of up to $2.9 million over the course of 12 years.
Charlotte will become Spectra’s financial services delivery center. No information has been released regarding where Spectra will locate its Charlotte operations.
Image courtesy of Gov. Pat McCrory via Facebook
Click here for further Charlotte market data