RALEIGH -- A major auto parts retailer will locate a corporate support center to Wake County, creating 600 jobs by the end of 2017 and investing more than $5 million. State officials announced late Wednesday that Advance Auto Parts will make plans that also include moving top management from Roanoke, Va. to North Carolina’s capital city.
“We’re proud to partner with Advance Auto Parts to bring more high-paying management jobs to our state,” said Governor Pat McCrory in a press release. “This announcement is further evidence that North Carolina’s economy is growing and that we are serious about investing in our workforce.”
Advance serves both the do-it-yourself and professional installer markets. As of April 19, 2014, Advance operated 5,276 company-operated stores, 105 Worldpac branches, and served approximately 1,400 independently owned Carquest branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. Advance employs approximately 74,000 Team Members. Advance has 256 stores and employs 3,823 workers in North Carolina.
In January 2014, Advance Auto Parts completed its acquisition of General Parts International, Inc. which had its corporate headquarters in Raleigh and operated the CarQuest auto parts brand. The acquisition created the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.3 billion.
“We remain focused on North Carolina’s commitment to economic development,” said Commerce Secretary Sharon Decker. “This location will give Advance Auto Parts the ability to centralize functions and work to create an efficient and effective corporate organization and positions the company for continued profitable growth.”
“We are pleased to partner with North Carolina and we are delighted that Raleigh, along with Roanoke, VA, will be part of our effort to organize our corporate operations around two Store Support Centers in the Southeastern United States. These locations will play an important role in our efforts to serve our customers, drive profitable growth and support the needs of the communities in which we operate,” said Darren R. Jackson, Chief Executive Officer of Advance Auto Parts.
The positions that will be based in the Raleigh Support Center include corporate functions related to merchandising, marketing, supply chain and commercial sales. The compensation for these positions is higher than the average annual wage in Wake County. Compensation for the new positions will vary by job function, but the average total compensation will be approximately $110,000 plus benefits.
“North Carolina’s economy continues to rebound with more good news on the jobs front,” said Senator Neal Hunt. “My office will continue to work closely with Secretary Decker and Governor McCrory in bringing new jobs, fiscal discipline and innovative thinking to our state.”
“My focus continues to be North Carolina’s people and economy,” said Senator Dan Blue. “This is welcome news for Wake County, and we look forward to working closely with Advance Auto Parts for many years to come.”
“Sweeping tax reform continues to make North Carolina more attractive to businesses across the nation,” said Representative Jim Fulghum. “We’re excited to welcome this expansion which will strengthen the local and regional economy with good jobs.”
“I welcome this major jobs announcement to Raleigh, and my office will continue our focus on attracting more jobs here and across our state,” said Rep. Yvonne Lewis Holley.
The project was made possible in part by an award to Advance from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, Advance is eligible to receive up to twelve annual grants equal to 75 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over twelve years, the JDIG award could yield aggregate benefits to Advance of over $17.4 million.