MetLife, Inc., a leading global life insurance and employee benefits company, plans to invest $125.5 million into its new Mecklenburg and Wake County campuses, creating 2,600 jobs in Charlotte and Cary, North Carolina by the end of 2015.
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.
“We would like to thank Governor Pat McCrory, Commerce Secretary Decker, Mecklenburg County, the City of Charlotte, Wake County and the Town of Cary for their partnership through this process,” said Marty Lippert, Executive Vice President, MetLife.
“MetLife is pleased to be joining the other great companies that make up the North Carolina business community. We are confident that the wide array of resources that the state affords MetLife will contribute significantly to MetLife’s continuing success.”
“North Carolina has much to offer our employees and the company. The strong sense of community in Cary and Charlotte, as well as the region’s robust infrastructure and sustainable talent pool were all compelling reasons for coming here,” said Eric Steigerwalt, Executive Vice President, MetLife.
“We’re proud that a strong corporate partner like MetLife has decided to invest in North Carolina,” said Gov. McCrory. “These jobs will complement our financial services sector in Charlotte and our high-tech hub in Wake County, two distinct sectors we want to expand.”
“This administration is committed to working with companies like MetLife to spur job creation and growth,” added Sharon Decker, North Carolina Commerce Secretary. “We congratulate MetLife for its success and for investing in North Carolina in this transformational way.”
The project was made possible in part by an award from the state Job Development Investment Grant program and a One North Carolina Fund Award. Receipt of the awards is based on proof of job creation and other performance requirements. Under the terms of the company’s JDIG award, MetLife is eligible to receive up to twelve annual grants equal to 75 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation and capital investment requirements. Over twelve years, the JDIG award could yield aggregate benefits to MetLife of up to $87.2 million.
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.