CHARLOTTE — Teguar Corporation is planning a $5.5 million expansion that will retain 29 jobs and add 26 jobs over the next five years. The expansion includes a 20,000-square-foot building.
“We are excited to expand into a custom designed facility which will enable continued growth,” CEO Jonathan Staub said.
Teguar provides high-quality industrial and medical computer systems.
Upon approval from the Mecklenburg Board of County Commissioners, the county will support the investment through a Business Investment Program grant in an amount not to exceed $82,587 over five years.
The county estimates an additional $24,600 in sales tax revenue by the end of the grant term.
Charlotte, upon approval from the city council, will support the company with a matching grant in an amount not to exceed $46,602.
“It’s always a great day for Charlotte when we can retain our homegrown companies and keep them thriving in the city where they started,” Mayor Vi Lyles said. “Teguar Corporation is one of our success stories and a valued leader in the future of innovative tech advancements coming out of Charlotte.”