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VOL. 131 | NO. 29 | Wednesday, February 10, 2016

Electrolux Gives Up Tax Breaks to Expand North American HQ

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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.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 38 12,796
MORTGAGES 27 27 8,030
FORECLOSURE NOTICES 0 0 1,209
BUILDING PERMITS 137 137 30,071
BANKRUPTCIES 44 44 6,108
BUSINESS LICENSES 8 8 2,301
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0