A Louisiana-based chemical company is relocating its headquarters to Charlotte and bringing 120 jobs, the Charlotte Chamber and N.C. Commerce Department said Tuesday.
Albemarle Corp. is located in Baton Rouge, and manufactures and researches specialty chemicals. The company, which employs a total of 6,900 people, will relocate next year.
“North Carolina is the ideal backdrop for headquarters operations of globally-connected businesses like Albemarle Corporation,” said Gov. Pat McCrory, in a statement. “Today’s announcement means that we can add another prominent name to the state’s growing list of elite companies basing their headquarters here.”
The company is set to receive an incentives package from the state totaling $2 million worth of rebates on its payroll taxes over the next 12 years. The incentives are tied to the company creating 120 jobs, with wages the state said will average $169,425 a year. The jobs will include positions in management, human resources, finances, legal and corporate affairs.
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“As we look at the ever-increasing demands for communication, collaboration and mobility for our employees and our customers, Charlotte is the best strategic location to base the new Albemarle,” said Luke Kissam, Albemarle’s CEO, in a statement.
Albemarle’s chemicals are used in products ranging from electronics to flame retardants to pharmaceuticals. The company is publicly traded and had $2.4 billion worth of sales last year.