A Charlotte financial technology startup plans to add more than 1,200 jobs in its hometown over five years.
North Carolina officials on Tuesday approved tax breaks for AvidXchange that with other state and local incentives could total almost $25 million. The company sells software that helps midsize companies receive, approve, and pay their bills more efficiently.
In a press release, Gov. Roy Cooper touted the state's climate for tech companies.
“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.”
AvidXchange now has more than 900 workers in Charlotte. The company plans to add white-collar headquarters jobs paying more than $68,000 a year.
The announcement comes on the heels of several high-profile economic misses for the state, including an expansion of Apple's workforce, and Amazon's coveted HQ2.
State officials said the company founded in 2000 also was considering expansion in Oklahoma City; The Woodlands, Texas; and Kansas City, Kansas.