Today, Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced that InVue Security Products Inc., a security firm focusing on retail theft, will expand its global headquarters in Charlotte.
The company plans to create 70 jobs in North Carolina by the end of 2017 and invest $750,000 into its Mecklenburg County location. The project was made possible in part by an award from the state Job Development Investment Grant (JDIG) program. Receipt of the award is based on proof of job creation and other performance requirements.
“We are proud to partner with InVue to help them expand jobs here in North Carolina,” said Governor McCrory. “North Carolina will continue to build on its economic development brand and effectively leverage our state's talent and resources to grow our state's economy.”
Founded in 1972, InVue provides security solutions for the top global retailers’ high theft merchandise. The company’s objective is to increase its customers’ profitability by helping increase their sales while decreasing merchandise theft. InVue provides “protection on demand” to customers around the world.
“The North Carolina Department of Commerce is committed to working with companies to spur job creation and growth,” said Sharon Decker, North Carolina Secretary of Commerce. “We congratulate InVue for their success and for investing in North Carolina once again.”
InVue plans to expand its current Charlotte facility to serve as its innovation and design center. The expansion will also include engineering operations, a quality lab and product showroom.
“We’re extremely excited about the opportunity to expand our corporate headquarters here in Charlotte,” said InVue President Jim Sankey. “We believe that Charlotte provides us the perfect environment of creativity, business resources, professional services and talent that we need to continue to grow our business.”
Compensation will vary by job function, but the average compensation for the new positions is expected to be more than $80,000 plus benefits. The average annual wage in Mecklenburg County is $51,792.
"We welcome this expansion of a good corporate citizen in the Charlotte-Mecklenburg area,” said Sen. Bob Rucho. “We are pleased to put our citizens back to work in the good jobs."
"This is great news for Mecklenburg County. Today's announcement means more jobs for our area and expanded economic development by the private sector,” said Rep. Jacqueline Schaffer. “I look forward to similar announcements in the future as our businesses continue to innovate and put more people back to work."
Today, the state Economic Investment Committee voted to award a Job Development Investment Grant (JDIG) to InVue Security Products. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, InVue is eligible to receive up to nine annual grants equal to 35 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation and capital investment requirements. Over nine years, the JDIG award could yield aggregate benefits to InVue of up to $702,000.
In addition, up to $234,000 in additional funds from the company’s JDIG award could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded to a company whose site is located in the state’s more economically prosperous counties such as Mecklenburg, 25 percent of the company’s grant is allocated to the Utility Fund to encourage economic development in less prosperous counties. For more information on the county tier designations, visit: http://www.nccommerce.com/research-publications/incentive-reports/county-tier-designations.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, Mecklenburg County and the Charlotte Chamber.
For more information about InVue Security Products, including job opportunities, visit www.invuesecurity.com.