NC Music Factory Changing Name to AvidX­change Music Factory

CHARLOTTE—The North Carolina Music Factory has a new name.

Charlotte-based payment solutions company AvidXchange is buying the naming rights to the entertainment and nightlife complex.

AvidXchange moved into a building at the Music Factory about a year ago.

CEO Michael Praeger says their name isn't the only thing expanding through the area.

“We're going to build a new six story, 200,000 square foot building as part of the initial building, and then hopefully immediately after start the second building. So we expect within the next year or so we'll have close to 1000 people here at the music factory," he said.

Praeger said they're working on replacing signs around the Music Factory.

The new building should be open sometime this summer.