The Concord City Council on Thursday approved tax incentives for a $66 million FedEx distribution center and office that is expected to provide more than 350 full-time and part-time jobs over the next five years.
Under the three-year grants, FedEx and the project’s developer, SunCap Property Group of Charlotte, would be eligible for a rebate on up to 85 percent of real and personal property taxes.
SunCap plans to build a $39.5 million, 343,000-square-foot industrial-distribution building in the International Business Park at Fortune Avenue NW, according to last week’s council agenda. The facility would have $26.8 million in machinery and equipment.
FedEx, the Memphis, Tenn.-based shipping company, expects to hire 55 full-time and 309 part-time workers over five years.
FedEx already has a location within the Cabarrus County business park, which is off Interstate 85 near N.C. 73.
A FedEx spokesman declined to comment because the company is in the “quiet period” before it reports quarterly earnings.
Concord has been a draw for shipping and distribution facilities lately. E-commerce giant Amazon.com operates a distribution center near the Concord Regional Airport, west of Interstate 85, that employs about 360.