The City of Charlotte proposes a $2,785,221 Business Investment Grant (BIG) over ten years to Siemens Energy, supporting its $149,895,000 capital investment and creation of 475 jobs with an average wage of $82,052. Additional incentives include $2,811,248 from Mecklenburg County and $6,880,500 from the State of North Carolina. Siemens Energy has committed to expanding its advanced manufacturing facility in Charlotte and adhering to specific grant repayment conditions.
This decision fosters significant economic growth and job creation in Charlotte, highlighting public-private collaboration to strengthen the local economy.