North Carolina Governor Josh Stein has declared that Scout Motors Inc. will establish its corporate headquarters in Charlotte, Mecklenburg County, a move that's expected to create 1,200 jobs. The automotive company, known for reviving the Scout brand, is set to invest over $206.9 million into the city, according to an announcement made yesterday. The investment embarks an ambitious project which will include research and development, IT, finance, sales, marketing, and various other corporate operations within a 300,000-square-foot office space.
A nod to the state's conducive business landscape was highlighted by Governor Stein who stated, "Our business-friendly climate, our top-tier research universities and community colleges, our leadership in the clean energy economy, our quality of life, and above all, our people make companies want to call North Carolina home." Reinforcing this sentiment, President and CEO of Scout Motors, Scott Keogh, recognized Charlotte as a befitting environment for their dynamic brand "where heritage and pride meet progress and innovation," as he told governor.nc.gov. Scout Motors also envisions an all-electric or extended-range electric lineup with the Scout® Traveler™ SUV and Scout Terra™ truck, supporting the state's clean energy objectives.
N.C. Commerce Secretary Lee Lilley welcomed the brand's decision to contribute to North Carolina's economy, stating, "Scout Motors carries forward a proud American legacy of innovation and craftsmanship to North Carolina," as mentioned on the North Carolina Office of the Governor website. The projected average annual salary for the new positions is $172,878, well above the county's average of $86,830, potentially influencing a substantial annual payroll impact of more than $207.4 million for the region. These numbers speak to the meaningful economic growth expected.
The venture is backed by a Job Development Investment Grant (JDIG), approved by the state's Economic Investment Committee, which could result in reimbursements up to approximately $46.5 million over 12 years, contingent on Scout Motors meeting certain job creation and investment targets. Moreover, because Scout Motors chose a location classified as Tier 3, an estimated $15.5 million may also be channeled into the state’s Industrial Development Fund – Utility Account from the JDIG agreement, which can support infrastructure improvements in rural communities.
Local leaders have welcomed the move, with Senator Caleb Theodros expressing excitement over the combination of jobs and investment being a boon for the community. Representative Becky Carney credited the achievement to the collaborative efforts of economic development professionals at various levels. The announcement comes as a culmination of partnerships including the North Carolina Department of Commerce, the Economic Development Partnership of N.C., and notable educational institutions like the University of North Carolina at Charlotte.
