Industrial conglomerate Honeywell International Inc. is now expected to move its entire headquarters to Charlotte, including over 700 high paying jobs with an average salary of $348,000.
NC Governor Roy Cooper just announced the move at a press conference this morning;
— Bob Morgan (@CLTChamberBob) November 30, 2018
In order to attract the Fortune 500 company, NC lawmakers rushed through new legislation yesterday that expands our state’s per-job annual cap on tax breaks to $16,000 (more than doubling the previous cap).
According to NC Representative Jonathan Jordan, the move is expected to bring somewhere between 700 to 800 jobs to the Charlotte region, at an average salary of $348,000 (including multimillion-dollar salaries for executives), and a median salary of $85,000.
Honeywell, currently based in Morris Plains, New Jersey, manufactures a massive product line, spanning equipment for military aircraft, space satellites, and automated office buildings, as well as chemicals used in the oil industry, thermometers, cleaning products, and even fishing line.
Honeywell currently sits at #77 on the Fortune 100 list of America’s largest companies. With Fortune’s #24 ranked Bank of America, #84 ranked TIAA, #125 ranked Duke Energy already in Charlotte, we will soon be the home of 4 of the largest companies in America.