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AvidXchange expands corporate headquarters in North Carolina

Thursday 20 December 2018 | 09:46 AM CET

US-based AP automation solutions provider AvidXchange has announced expanding its corporate headquarters in North Carolina.

The company plans to add over 1,200 new jobs over the next five years. According to company officials, its expansion was made possible in part by a recently awarded North Carolina Job Development Investment Grant. This announcement comes on the heels of the company confirming that it exceeded its original Job Development Investment Grant commitment made in 2015 by 42%.

This is in addition to commitments made to grow the company's operations center in Sandy, Utah, with plans to add up to an additional 218 jobs there over the next five years.

The North Carolina Job Development Investment Grant is a performance-based, discretionary incentive program that provides cash grants to new and expanding companies to help offset the cost of locating or expanding a facility in the state. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorises the potential reimbursement to the company of up to USD 19,614,000, spread over 12 years.

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