CHARLOTTE, N.C. — The city of Charlotte says an engineering company that has held roots in the area for more than three decades is expanding to a new research and development facility, all while maintaining and even adding jobs.
Bosch Rexroth, which creates solutions for factory automation, will invest $58 million into the new facility off Tyvola Road. Touted as a state-of-the-art R&D and customizing facility, the company said this was the perfect time to make the move.
“We are excited to experience the growth that necessitates this move, and we are proud to remain within Charlotte,” said CEO and president Greg Gumbs.
The facility will be built-to-suit with a total footprint of 227,500 square feet, with most space dedicated to lean manufacturing and logistics. The company said this will provide them enough room to focus on flexible manufacturing as demands change. A customer showroom, innovation center, training facilities, and collaboration spaces will also be included.
“Charlotte is quickly establishing itself as a frontrunner for leading manufacturing companies,” said mayor Vi Lyles. “Bosch Rexroth has become a valued community partner and we are thrilled that they are choosing not only to stay but to grow in our city.”
The city and the company worked with Mecklenburg County, the North Carolina Department of Commerce, and the Economic Development Partnership of North Carolina.
Both the city and county governments note incentives were offered to Bosch Rexroth. $959,426 will be paid out under the city's Business Investment Grant program over a term of up to seven years as reimbursement of net new property taxes generated by the company's capital investment in the city for the term of the grant, or until the maximum grant value is achieved, whichever comes first.
Similarly, Mecklenburg County's Business Investment Grant program awarded just more than $1.7 million to Bosch Rexroth over a seven-year term. Similar terms to the city grant also apply.
The move to the new facility will still see 326 people employed by Bosch Rexroth keep their jobs, and the company plans to hire 24 more people. Those positions will include a mix of roles, including engineering, sales and customer service, administrative, and production.
Bosch Rexroth's roots in the Charlotte area have solidified the company as a leader in the city's manufacturing sector. Part of that leadership includes partnerships with workforce development organizations and educational programs. For example, the company highlights hands-on opportunities to boost access to STEM-based careers with Charlotte Works and at Olympic High School, and has donated more than $600,000 to support STEM and FIRST Robotics activities in the metro area through the Bosch Community Fund.
Job openings are available, and those interested can apply online.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
