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Lowe's Setting Up Technology Center In Charlotte; To Add More Jobs

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Home improvement retailer Lowe's Companies Inc. (LOW) has selected Charlotte, North Carolina to set up a global tech hub that will add more about 2,000 jobs.

Lowe's intends to build its new global technology center in Charlotte's South End. Set to open in late 2021, a 357,000-square-foot facility will be located in a new 23-story tower. The developer, a joint venture between Childress Klein and RAM Realty Advisors, plans to break ground on the building, called Design Center Tower, in August 2019.

"Lowe's is expanding in a way that will take technology to new heights and this company knows its home state can provide the highly trained workforce it needs," North Carolina Governor Roy Cooper said. "We are committed to ensuring workers have the right skills to encourage companies to grow their footprint in our state with confidence."

North Carolina's economic development committee approved $54 million to be paid to the company over 12 years if Lowe's creates 1,612 jobs during that time.

The state estimates the new jobs will expand North Carolina's economy by $6.3 billion.

"We're excited to stand up our new global technology center here in North Carolina to continue to drive our company's growth," said CEO Marvin Ellison. "Locating our new facility in the heart of Charlotte, the state's largest metropolitan area, will enable Lowe's to attract top technology talent and foster collaboration with our teams in our nearby Mooresville headquarters.

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