MetLife Inc. intends to create 2,600 jobs in Charlotte and Cary, NC. The life insurer expects to invest, or cause to be invested, $125.5 million into its new Mecklenburg and Wake county campuses.
This is the largest jobs announcement in recent North Carolina history.
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MetLife plans to establish hubs for its U.S. Retail Business in Charlotte and for its Global Technology & Operations organization in Cary. New positions would include product management, marketing, sales and customer support in Charlotte and information technology positions in Cary focused on delivering global solutions to support MetLife and the customers it serves.
The project was made possible in part by an award from the state Job Development Investment Grant (JDIG) program and a One North Carolina Fund Award. Receipt of the awards is based on proof of job creation and other performance requirements. MetLife is eligible to receive up to twelve annual grants equal to 75% of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Over 12 years, the JDIG award could yield aggregate benefits to MetLife of up to $87.2 million.
As much as $29.09 million in additional funds from the company’s JDIG award could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties.
The project was also made possible in part by a performance-based grant from the One North Carolina Fund of up to $2 million. The grant is contingent upon proof of job creation and receipt of a local funding match.
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