AvidXchange to expand headquarters in Charlotte, add more than 1,200 jobs

AvidXchange to expand headquarters in Charlotte, add more than 1,200 jobs

CHARLOTTE, N.C. — Gov. Roy Cooper announced AvidXchange will expand its headquarters in Charlotte, creating 1,229 jobs.

Cooper made the announcement at a news conference Tuesday.

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AvidXchange, which automates invoices and payment processes for midmarket companies in multiple industries, plans to invest $41 million in Mecklenburg County.

“North Carolina leads the nation in the IT and financial services industries,” Cooper said. “North Carolina’s talented workforce helps companies like AvidXchange develop big ideas and build innovative products.”

Officials said a variety of positions will be added, including software development, financial, marketing and professional services personnel. The jobs will have an average salary of $68,569.

AvidXchange CEO Mike Praeger said the company has already added more than 600 jobs over the last three years and this expansion will help grow North Carolina’s economy by $2.6 billion.

Officials said AvidXchange’s expansion was fostered by a grant approved by the state’s Economic Investment Committee. The agreement authorizes the potential reimbursement to the company of up to $19,614,000 over 12 years. State payments are contingent on performance verification by the departments of commerce and revenue that the company has met its job creation and investment targets.

The company said over the next 24 months it plans to start expanding the parking deck at its current headquarters and make land improvements to the area, so construction can start on a new six-story building.

Charlotte Mayor Vi Lyles said the burst of economic growth follows changes made to the city’s economic development strategy and incentives.

“I think more importantly our workforce we’re training. The number of kids getting this in CMS and UNC Charlotte, that’s what is helping us a lot,” Lyles said.

The announcement comes just weeks after industrial conglomerate Honeywell International Inc. announced it was moving its headquarters from New Jersey to Charlotte, bringing roughly 750 jobs to the area over the next six years.

Earlier this month, LendingTree also announced it would be expanding its headquarters in Charlotte, bringing more than 400 new jobs over the next five years

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