Subsidy Tracker Individual Entry

Company: 
MetLife
Parent Company: 
MetLife
Subsidy Source: 
multiple
Location: 
North Carolina
City: 
Cary And Charlotte
County: 
Wake And Mecklenburg
Project Description: 

insurance company office relocations

Year: 
2013
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Subsidy Value: 
$101,100,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,600
Wage Data: 
$82000
Wage Data Type: 
average annual salary
Capital Investment: 
$125,500,000
Source of Data: 

The state portion of the subsidy package and the job and investment projections are taken from the press release issued by Gov. Pat McCrory on March 7, 2013; available online at: http://www.governor.state.nc.us/newsroom/press-releases/20130307/metlife.... The value of the local subsidies and the wage projections are taken from: "MetLife to move 2,600 jobs to NC from NE, Calif.," Associated Press, March 7, 2013; available online at: http://www.vcstar.com/news/2013/mar/07/metlife-to-move-2600-jobs-to-nc-f...

Notes: 

The subsidy package was assembled for relocation of MetLife offices from California and several northeast states to two locations in North Carolina. The subsidy package includes: $87.2 million through Job Development Grant program over 12 years; $5 million for worker training through North Carolina community colleges; a $2 million grant from the One North Carolina program; about $4 million in grants from Cary and Wake County; and about $2.9 million from Charlotte and Mecklenburg County. Overlaps with main Subsidy Tracker data: a 2013 entry for $87,271,500 from Job Development Investment Grant program in NC.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.