NORTH CAROLINA, November 26 - RXO (NYSE: RXO), a leading freight transportation company headquartered in Charlotte, will expand its operations in Mecklenburg County, creating 216 jobs over the next several years, Governor Roy Cooper announced today. The company will invest $13.7 million to expand its market presence.

"It’s great to see another North Carolina company decide that our state remains the perfect location to grow and thrive,” said Governor Cooper.  “RXO’s decision demonstrates the strength and competitive advantages of North Carolina’s infrastructure, business climate, and highly skilled workforce.”

RXO operates an extensive global logistics network, connecting shippers with independent carriers for efficient transportation of freight via trucks, as well as other various means like ocean and air carriers. Leveraging strong technological capabilities, industry expertise, and customer relationships, the company streamlines the transportation process, reducing inefficiency. RXO’s project in Mecklenburg County will allow the company to meet increased demand and will bring opportunities for transportation brokers, operational and logistics specialists, and technology and data analysts, among others.

“RXO is thrilled to renew our commitment to Charlotte and expand our operations here,” said Drew Wilkerson, Chief Executive Officer of RXO. “North Carolina’s strategic location, robust infrastructure, and skilled talent pool make it a vital hub for the transportation industry, and we're proud to be a part of its continued growth.”

“Following an extensive and rigorous site evaluation process, I’m proud that RXO selected North Carolina for this expansion project,” said North Carolina Commerce Secretary Machelle Baker Sanders.  “Success in economic development requires teamwork and the willingness to invest in the things that keep us competitive, like our education and workforce training systems. We will always do what it takes to keep North Carolina a top business location.”

The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.

Although wages will vary depending on the position, the average salary for the new positions will be $89,769, compared with the current average wage in Mecklenburg County of $84,797. The new positions will bring an annual payroll impact to the community of more than $19 million per year.

The company’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today and formally awarded to RXO Corporate Solutions LLC. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by nearly $498 million. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,636,500, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

The project's projected return on investment of public dollars is 131 per cent, meaning for every dollar of potential cost, the state receives $2.31 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

Because RXO chose a site in Mecklenburg County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $545,500 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Mecklenburg, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.

"New jobs and new investment are on the way to Charlotte, and I couldn’t be more excited," said N.C. Senator Rachel Hunt. "RXO has been a great partner in our community, and we’re thrilled they’ve chosen to expand here in Mecklenburg County."

“It’s great to see the close collaboration from many local, regional, and state organizations that have worked tirelessly to bring this economic development project to Charlotte,” said N.C. Representative Wesley Harris. “We are thrilled to see such a great company make such a strong investment in our community. We look forward to supporting the company through this next stage of their growth in North Carolina.”

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, N.C. Commerce’s Division of Workforce Solutions, Mecklenburg County, and the City of Charlotte.

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