News Summary
Daimler Truck Financial Services USA has chosen Charlotte, North Carolina, as its new headquarters, creating 276 jobs and investing over $7.8 million. The decision, endorsed by Governor Josh Stein, will move operations from Michigan and Texas to a new 60,000-square-foot facility in Ballantyne. With an average salary significantly above the county average, the initiative is expected to enhance the North Carolina economy with a $1.08 billion contribution over 12 years, generating substantial state revenue and support for local infrastructure.
Charlotte, North Carolina has been selected as the new U.S. headquarters for Daimler Truck Financial Services USA (DTFS), a move expected to create 276 jobs and an investment of over $7.8 million. Governor Josh Stein announced the decision on Tuesday, marking a significant economic boost for Mecklenburg County.
The new headquarters will be located in a 60,000-square-foot facility in the Ballantyne area, consolidating operations from existing offices in Michigan and Texas. The new roles will encompass various internal functions, including administrative, human resources, and financial operations, with an average annual salary projected at $133,940—considerably above the county average of $86,830.
The anticipated total annual payroll impact from these new positions could exceed $36.9 million, indicating a substantial economic influx into the region. This project is set to receive support through a Job Development Investment Grant (JDIG), which was approved by the state’s Economic Investment Committee.
According to the JDIG projections, the initiative will bolster North Carolina’s economy by an estimated $1.08 billion over a 12-year period. The grant could enable Daimler to receive up to $4.17 million in reimbursements contingent on performance metrics being met. The state believes this investment will yield a striking 119% return on public funds spent, forecasting $2.19 in state revenue for every dollar invested.
Infrastructure and Support
As Mecklenburg County is designated as a Tier 3 county under the state’s economic ranking system, approximately $1.39 million from the JDIG agreement will be allocated to the state’s Industrial Development Fund – Utility Account, which focuses on supporting rural infrastructure improvements.
Impact on Employment
In addition to the 193 newly created local jobs, more than 83 existing Daimler financial employees are set to transfer from other locations. This reshuffle is aimed at aligning DTFS more closely with Daimler Truck North America (DTNA), which is headquartered in Portland, Oregon, and manufactures medium and heavy-duty trucks under well-known brands such as Freightliner, Western Star, and Thomas Built Buses.
Local and State Partnership
The establishment of the headquarters received backing from several local and state partners, including the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, and members of the North Carolina General Assembly. The presence of DTFS in Charlotte also underscores the city’s role as the second-largest banking center in the U.S., further solidifying its economic landscape.
Conclusion
The decision to set the headquarters in Charlotte signifies Daimler’s commitment to expanding its presence in the region while contributing to job creation and economic growth. As the project progresses, it will not only benefit local residents through employment opportunities but also contribute significantly to the wider North Carolina economy.
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HERE Resources
Additional Resources
- Charlotte Observer
- Encyclopedia Britannica: Daimler Truck Financial Services
- WCNC
- Google Search: Daimler Truck Financial Services
- Business North Carolina
Author: HERE Charlotte
The CHARLOTTE STAFF WRITER represents the experienced team at HERECharlotte.com, your go-to source for actionable local news and information in Charlotte, Mecklenburg County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Lovin' Life Music Festival, Charlotte Pride festival, and major sporting tournaments at Bank of America Stadium. Our coverage extends to key organizations like the Charlotte Regional Business Alliance and Foundation for the Carolinas, plus leading businesses in finance and entertainment that power the local economy such as Bank of America and NASCAR. As part of the broader HERE network, including HEREAsheville.com, HEREGreensboro.com, HERERaleigh.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
