Governor Josh Stein announced today that Scout Motors Inc., an automotive manufacturer, will create 1,200 jobs in Mecklenburg County, North Carolina. The company’s investment of over $206.9 million will establish its corporate headquarters in Charlotte. The project is facilitated by a state-approved Job Development Investment Grant (JDIG) and is expected to significantly impact the local economy. The announcement underscores North Carolina’s appeal as a business-friendly environment with a strong focus on innovation and quality of life.
Scout Motors, which was formed in 2022, aims to revitalize the iconic “Scout” brand, originally produced by International Harvester between 1961 and 1980. The company plans to begin production in 2027, with its headquarters set to be a 300,000-square-foot facility in Charlotte. The headquarters will support various corporate functions, including research and development, IT, finance, sales, and marketing. The average annual salary for the new positions is expected to be $172,878, which is significantly higher than the Mecklenburg County average of $86,830.
The JDIG agreement, approved by the state’s Economic Investment Committee, is projected to grow the state’s economy by $4.8 billion over a 12-year period. The grant allows for potential reimbursement to Scout Motors of up to $46.5 million, contingent on the company meeting job creation and investment targets. The project also promises a 67 percent return on investment of public dollars, indicating positive net tax revenue for the state. Additionally, part of the JDIG agreement allocates up to $15.5 million to the state’s Industrial Development Fund – Utility Account, aiding rural infrastructure development.
Key partners in this project include the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, and several educational institutions. Local leaders have expressed excitement about the economic opportunities the project will bring to the region. The investment and job creation are seen as a testament to the collaborative efforts of various state and local economic development entities.
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