200 new jobs for Charlotte in $200 million Albemarle Corp. lithium tech expansion
Albemarle Corp. is expanding in Mecklenburg County, investing $200 million and creating at least 200 jobs, city of Charlotte and county officials said Tuesday.
The chemical company headquartered in Charlotte will establish an advanced materials research and development facility in the University City area focused on lithium and battery tech, the officials said.
Albemarle Corp. also is in line to get taxpayer incentives for the work.
Albemarle Corp. is a development, manufacturer and marketer of chemicals for markets, including energy, electronics, transportation, construction, pharmaceuticals and agriculture.
“The Albemarle Technology Park is an important piece of our journey to develop advanced energy storage technologies that power our future,” Albemarle CEO Kent Masters said in a statement. “Albemarle is focused on lithium technology leadership because it drives value for our customers and advances the world’s transition to more sustainable energy.”
Although wages for the new jobs will vary depending on the position, the average salary will be around $94,000. That’s more than the current average wage in Mecklenburg County of $75,907, the state said.
For its investment, Albemarle Corp. will receive nearly $12.7 million in performance-based grants. The state has approved $1.24 million over 12 years, city of Charlotte up to $7.24 million over 12 years, and county up to $4.2 million over seven years.
The facility is expected to open in early 2025 with completion of the campus by late 2026, according to Albemarle’s website.
Gov. Roy Cooper praised the expansion, saying, “Albemarle’s work on the next generation of products related to lithium batteries really advances North Carolina’s leadership in the emerging clean energy economy.”
About Albemarle Corp.
Albemarle, which relocated its headquarters from Baton Rouge, Louisiana, to Charlotte in 2015, specializes in lithium, bromine and refining catalysts.
The company has facilities throughout the world, including a lithium processing site in Kings Mountain.
Albemarle has about 5,400 employees and serves customers in 100 countries. There are 463 workers at its global headquarters in Charlotte, Albemarle spokeswoman Kim Ronkin Casey said.
The company reported third-quarter net sales of $2.1 billion, a 152% increase of $1.3 billion compared to the prior-year quarter driven by strong demand for lithium-ion batteries.
This story was originally published December 13, 2022 at 1:27 PM.