Software Firm AvidXchange To Add 600 New Jobs in Charlotte

Software Firm AvidXchange To Add 600 New Jobs in Charlotte

Monday, September 15, 2014

Charlotte based software company AvidXchange has announced plans to expand their operation which includes adding 600 new jobs in the Queen City.

The 14 year old privately owned commpany, which automates bill payments and invoicing for mid-sized companies, will invest $20 million in the expansion project, Gov. Pat McCrory announced Monday.

“Fourteen years ago, if you’d told me that we’d be building a corporate campus in Charlotte,” co-founder Michael Praeger said at the press conference. “I don’t think I would’ve believed you.” Since then, Praeger’s company has moved to the Metropolitan and grown to employ about 275 people in Charlotte.

Now AvidXchange plans to hire about 600 more people by the end of 2018. As part of the expansion, the company will build a 115,000 square-foot headquarters at the Music Factory.

The state is giving AvidXchange incentives that could add up to more than $7.5 million over 12 years. The city of Charlotte and Mecklenburg County are also putting up incentives worth more than $1 million.

The company plans to hire people from the Charlotte area for the vast majority of the 600 jobs. The average salary will be around $62,000.

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