Continue Reading Below
The home improvement company tweeted about the project Thursday, saying the hub “will ultimately employ up to 2,000 tech associates.”
Selecting Charlotte as the location will support the company’s efforts to acquire skilled technology employees, Lowe’s President and CEO Marvin R. Ellison said on their website. It will also “foster collaboration” with those working at the Lowe’s headquarters in Mooresville, North Carolina, he said.
“This team will create technology solutions that will accelerate our commitment to becoming a best-in-class, omni-channel retailer and strengthen our associate and customer experiences,” he said.
Lowe's and city officials on Thursday said the company would put $153 million toward the project, while the state's giving a $54 million incentives grant to be paid over 12 years if Lowe's meets job creation and investment targets, according to The Associated Press.
|LOW||LOWE'S COMPANIES INC.||114.54||+1.69||+1.50%|
Construction will start on the building, called the Design Center Tower, in August, the company said. That’s expected to give Lowe’s a move-in date by late 2021.
The Associated Press contributed to this report.