Charlotte Pipe is leaving its longtime home near uptown

Charlotte Pipe is leaving its longtime home near uptown

CHARLOTTE, N.C. — Charlotte Pipe & Foundry is close to a $325 million deal to move its metal pipe manufacturing operation near uptown Charlotte to an undeveloped site in the Oakboro area of Stanly County, sources have told the Charlotte Business Journal.

An announcement on an estimated $125 million in incentives that were signed into law Thursday could be made as soon as this week, according to one source.

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The CBJ first wrote about the possibility that Charlotte Pipe was considering a move for the plant last month. Property values have escalated in the area near South End, and nearby development has added pressure on the company to question what is the best use for more than 20 acres on Clarkson Street where it now makes metal pipe and employs about 475 workers.

Sources say Charlotte Pipe, state officials and Stanly County executives have been working for as long as two years on a code-named project called Blue Sky.