Lowe’s moving corporate hangar from Statesville to Charlotte Douglas

  

Image Source: Lowe’s Companies, Inc.

STATESVILLE, NC (WSIC) – Mooresville-based Lowe’s plans to move its corporate hangar from the Statesville Regional Airport to Charlotte Douglas within the next year.

Lowe’s tells WSIC in a statement it has signed a lease with the City of Charlotte and is awaiting final approvals. According to spokesperson Maureen Wallace, the company is making the change since a number of its senior leaders reside in the queen city and most of its corporate meetings take place there.

RELATED: City of Statesville ‘caught off guard’ by Lowe’s aviation move

“We are committed to helping ensure a smooth transition in Statesville and are working with the regional airport to facilitate conversations with a number of interested parties,” says Wallace.

A hangar lease agreement is on Monday night’s strategy session agenda for the Charlotte City Council. Lowe’s plans to build a hangar at Charlotte Douglas and enter a ground lease with the city for a period of twenty years, according to a document about the vote. Two five-year options are requested following the initial lease.

The city’s document indicates Lowe’s will reimburse taxpayers for all of its pro rata share of site preparation and bear the cost of constructing the facility. Once complete, Lowe’s plans to pay the ground rent and other rents/fees associated with the site.

When contacted by WSIC, Charlotte Douglas Airport directed all questions to Lowe’s corporate communications. WSIC has reached-out to the City of Statesville and City of Charlotte for additional information. Those requests have not yet been answered.

Lowe’s reported a net loss of $824 million when its fourth quarter sales and earnings results were released Wednesday. The loss is blamed, in part, on pre-tax charges of $1.6 billion.

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