Financial Software Company To Add 1,200 Jobs In Charlotte

December 18, 2018

WCCB Charlotte,

CHARLOTTE, N.C. (AP) – A Charlotte financial technology startup plans to add more than 1,200 jobs in its hometown over five years.

Great remarks from @NC_Governor Roy Cooper “avidxchange is a tech company but first and foremost it’s a people company” Fantastic news that @AvidAutomates is expanding and creating over 1,000 jobs in CLT pic.twitter.com/GTFtQCVasD

— CLT Economic Development (@cltecon) December 18, 2018

North Carolina officials on Tuesday approved tax breaks for AvidXchange that with other state and local incentives could total almost $25 million.

“North Carolina leads the nation in the IT and financial services industries,” Governor Cooper said. “North Carolina’s talented workforce helps companies like AvidXchange develop big ideas and build innovative products.”

The software company sells software that helps midsize companies receive, approve, and pay their bills more efficiently.

“We launched AvidXchange 18 years ago in a coffee shop in Charlotte with five employees. Since then, we’ve grown to 1200 employees, proud to call North Carolina home,” said AvidXchange CEO, Michael Praeger. “I’m thrilled to have the State’s continued support as we look to double our employee base in the next five years.”

AvidXchange now has more than 900 workers in Charlotte. The company plans to add white-collar headquarters jobs paying more than $68,000 a year.

“AvidXchange offers a great example of North Carolina’s entrepreneurial spirit,” said North Carolina Commerce Secretary Anthony M. Copeland. “This homegrown company shows our state provides everything companies need, through every stage of their growth cycle.”

State officials said the company founded in 2000 also was considering expansion in Oklahoma City, Oklahoma; The Woodlands, Texas; and Kansas City, Kansas.