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Gov. McCrory uses big incentives to lure MetLife jobs

The insurance giant MetLife plans to add more than 2,600 high-paying jobs in Cary and Charlotte over the next three years after being awarded a state incentives package worth more than $94 million this morning. MetLife expects to invest $125.5 million as part of the project.

“We’re proud that a strong corporate partner like MetLife has decided to invest in North Carolina,” said Gov. Pat McCrory in a statement. “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.”

The state’s Economic Investment Committee approved an incentives package for the company at its meeting in Raleigh this morning. MetLife received a 12-year state Job Development Investment Grant worth as much as $87.3 million if it meets hiring and investment goals. MetLife also must retain the 143 employees it now has in Charlotte.

The company is also receiving millions in training credits and a $2 million grant from the One North Carolina fund. More here.


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McCrory's giveaway should get him fired!

This is an outrage.

I'd prefer not to focus on credit or blame

I'd rather see a longer discussion on the terms of this incentive package and whether it was worth it, given all the other things our state needs to pay for. As government gets turned more and more into a center for generating profits for corporations, more and mroe public resources are being diverted in support of corporations. Is that really the proper role of government? Do msot people really agree that government should put a priority on help corporations over the pepple?

That money could have been used for training and seed money for North Carolinians to start their own businesses, or a host of other programs that build self-sufficiency and reduce our economy's reliance on too-big-to-fail corporations.

Who gets the credit & who gets the blame?

Some say Bev should get credit for the jobs as it obviously has been in the making for some time. So does Bev get blamed for the incentive package?

Or does Bev get the credit for the jobs but McCrory gets the blame for the incentives?

Is this one of those deals where heads I win and tails you lose?

I am happy the jobs are coming. I give credit to the Andy Griffith Show, Mayberry, Floyd and Barney. They are the real heroes here.

and they're crying poor?

let me get this straight, McCrory is already warning us the state is destitute and big cuts are on the way... yet they're forking over nearly $85 million in cash to this company, a company now hiring McCrory's law firm?

Man, talk about feeding at the public trough.

Big incentives? Whoa there!

As I recall Gov Easley had the Golden Leaf Foundation write a check to the Global Transpark for one hundred million dollars to lure Spirit Aero. Then another one hundred and forty million or so in incentives was promised. And all this for 1,000 jobs.

So these incentives are chump change in comparison. Total incentives in the Spirit Aero were, I believe, somewhere in the $240,000,000 range.

I also recall that the $100,000,000 check from Golden Leaf pretty much "eviscerated" the other projects planned for that year.

And at the time I don't recall any complaints from the Dome. Did you call those incentives "big?"

Duh.

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