Lowe’s is putting its money where its mouth is as it continues to invest in technology. The retailer will occupy a 357,000-square-foot global technology center in Charlotte, N.C. dedicated to employing 2,000 of the company’s tech professionals.
The home improvement retailer is investing $153 million in the project and will occupy 15 of the 23 floors within the tower, which will serve as the “epicenter for the team Lowe’s is hiring to help modernize its IT systems and build future retail experiences,” according to a statement. The tech center will create 1,600 new jobs, with 400 employees relocating from the company headquarters in Mooresville, N.C.
The developer, a joint venture between Childress Klein and RAM Realty Advisors, plans to break ground on the Design Center Tower in August 2019, with Lowe’s moving in by late 2021.
In December 2018, Lowe’s announced plans to invest more than $500 million annually through 2021 toward the company’s technology transformation. The home improvement retailer already has more than 3,300 existing tech specialists on staff, and it acquired retail analytics technology from Boomerang Commerce in May 2019.
Lowe’s has a major presence in the Charlotte market, operating 21 stores and employing nearly 11,000 associates there.
The retailer plans to work closely with city, county and state economic development leaders, along with local tech organizations, schools and universities, to help develop and add to its pipeline of tech talent. The state is offering more than $55 million in incentive funds as part of the deal.
Lowe’s will maintain technology teams in existing strategic locations, including Mooresville; Kirkland, Wash.; and Bangalore, India.