Governor Pat McCroy Announces the Epansion of Industry in North Carolina - Volume II
For Immediate Release:
MetLife to Create Over 2,600 Jobs in North Carolina
Raleigh, N.C. Today, Governor Pat McCrory will announce that MetLife, Inc., a leading global life insurance and employee benefits company, intends to create 2,600 jobs in Charlotte and Cary, North Carolina by the end of 2015. The company expects to invest, or cause to be invested, $125.5 million into its new Mecklenburg and Wake County campuses.
"We're proud that a strong corporate partner like MetLife has decided to invest in North Carolina," said Governor 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."
Today's announcement of more than 2,600 jobs by the Governor is the largest jobs announcement in recent North Carolina history.
"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."
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 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.
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. The state Economic Investment Committee voted earlier today to award a Job Development Investment Grant (JDIG) to MetLife. JDIGs are awarded only to new and expanding businesses whose benefits exceed the costs to the state and would not be undertaken in North Carolina without the grant.
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.
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. When a JDIG is awarded to a company whose site is located in the state's more economically prosperous counties such as Mecklenburg and Wake, 25 percent of the company's grant is allocated to the Utility Fund to encourage economic development in less prosperous counties. For more information on the county tier designations, visit: http://www.nccommerce.com/research-publications/incentive-reports/county-tier-designations.
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. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, Mecklenburg County, City of Charlotte, Charlotte Chamber, Charlotte Regional Partnership, UNC Charlotte, Wake County, Town of Cary, Cary Chamber, Greater Raleigh Chamber of Commerce, N.C. State University, Research Triangle Regional Partnership and Duke Energy.
For more information about MetLife, including job opportunities, visit metlife.com.
About MetLife
MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
Contact: Crystal Feldman
govpress@nc.gov
Metal Manufacturer to Create 121 Jobs in Macon County
Raleigh, N.C. -- Today, Governor Pat McCrory and N.C. Commerce Secretary Sharon Decker announced that Franklin Tubular Products Inc., a manufacturer of manipulated tubular assemblies, will locate its operations in Macon County. The company plans to create 121 jobs and invest $4 million over the next three years in Franklin.
"My administration is committed to partnering with businesses to help them succeed," said Governor McCrory. "We must do more to align educational preparation and training with the needs of our manufacturers and other industries."
Franklin Tubular Products is a subsidiary of Tricorn Group PLC. As a part of the project, Tricorn acquired the facility, business and assets of Whitley Products. The Franklin facility will continue to manufacture fabricated metal tubes. There are currently more than 100 people employed at that plant.
"North Carolina has a proud heritage in manufacturing," said Sharon Decker, N.C. Secretary of Commerce. "We want more 'Made in NC' products to be sold around the country and around the world, so we are pleased Franklin Tubular Products is locating its operations in Macon County."
Salaries will vary by job function, but the average annual wages for the new jobs will be $32,102, plus benefits. The Macon County average annual wage is $29,516.
"Following the establishment of our manufacturing facility in China announced last year, this acquisition represents a further and very significant step in the Tricorn business achieving a considerable multi-site global business, delivering global tube solutions to a global OEM customer base," said Phil Lee, Group Finance Director, Tricorn Group PLC. "We have already started to establish close working relationships with Whitley's U.S. customer base and this is an ideal platform from which to increase sales in the U.S. for the Franklin facility."
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $56,000. The grant is contingent upon proof of job creation and receipt of a local funding match. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds.
"It is wonderful news to learn that Franklin Tubular Products has purchased the business and certain assets from Whitley Products to keep that operation and its 120 jobs in Franklin," said Senator Jim Davis. "It is my understanding that an additional $4 million will be invested in the near future to modernize the plant. This achievement is the result of a collaborative effort by Governor McCrory's office, the North Carolina Department of Commerce, the Macon County Board of Commissioners, the Town of Franklin, the Macon Economic Development Corporation, and Advantage West. This is a great example of what can be accomplished when the appropriate stakeholders work together."
"I am proud to see North Carolina Governor McCrory and the Department of Commerce, along with Macon County Commissioners, working together to bring jobs to Western North Carolina," said Rep. Roger West.
Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Macon County, Macon County Economic Development Commission, AdvantageWest and the Town of Franklin.
Contact: Crystal Feldman
govpress@nc.gov
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