VOL. 131 | NO. 29 | Wednesday, February 10, 2016
Electrolux Gives Up Tax Breaks to Expand North American HQ
RALEIGH, N.C. (AP) – Appliance-maker Electrolux is backtracking from plans announced two years ago to expand its North American headquarters in Charlotte and add more than 800 jobs.
A North Carolina committee that oversees major tax breaks for expanding companies on Tuesday voided its offer of more than $27 million for the expansion announced in 2013. State Commerce Department spokeswoman Kim Genardo said the company was voluntarily giving up its grant, which was dependent on meeting job-creation targets.
The Charlotte Observer reported last month (http://bit.ly/1PVa2ZX) that Electrolux opted not to nearly double its Charlotte workforce after failing to purchase General Electric's appliance unit. Sweden-based Electrolux linked its previously announced $85 million expansion to the GE deal last June.
Electrolux moved the headquarters from Georgia in 2010 for state and local incentives worth $27 million.
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