Allstate Insurance Concord Nc – CHARLOTTE, NC (Elle Portillo and Devon Roberts/Charlotte Observer) – Allstate Insurance Co. is creating 2,250 jobs in Charlotte as part of a three-year expansion plan, officials announced Wednesday.
The insurer is expected to raise more than $22 million by expanding its operations center in the Charlotte area, officials said in an announcement made at the Uptown Charlotte Chamber. The move adds to the insurer’s approximately 1,400 employees in Charlotte.
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Earlier Wednesday, the state approved an incentive package worth about $23.7 million in exchange for the project. The local matching incentive is about $1.5 million, split between Mecklenburg County and the City of Charlotte.
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“This is one of the largest job announcements in the history of the Charlotte-Mecklenburg region at one time,” Gov. Roy Cooper said at a press conference. Jobs will be created for claims specialists, executives, underwriters and information technology roles, he said.
According to Allstate, the new jobs will generate more than $105.3 million in annual payroll after all positions are filled. That means the average job, based on 2,250 jobs, pays about $46,800.
“The vast majority of these jobs are available to job seekers with entry-level qualifications,” Mecklenburg County Economic Development Director Peter Zeller said in an email to county commissioners Wednesday.
Harriet Harty, Allstate’s executive vice president of human resources, said the company hasn’t fully decided on the mix of jobs it will bring to Charlotte, but they will cover a variety of positions.
Allstate To Create 2,250 Charlotte Jobs In Expansion
“We’re excited to bring more jobs to the state,” Harty said at Wednesday’s event. “Allstate values the great working relationship we’ve had with North Carolina for more than 45 years.”
Harty said the company is still looking in various locations in Charlotte for new jobs, but the company may build on its operations center at Innovation Park, an office complex in City University.
“It’s a win for the company, our employees, our customers, the region and the state,” he said. Harty said the company is also expanding in Irving, Texas, and that was another possible location for the new offices.
Harty said last year’s controversy over Bill 2, the state’s controversial law that limits non-constitutional protections for LGBT people, was a factor in the company’s decision. PayPal has canceled plans to build a new operations center in Charlotte that would add more than 400 jobs after HB2 takes effect. This law was partially repealed at the beginning of this year.
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“For us, inclusive diversity is one of our core values,” he said. “Did that factor into our decision? Certainly, a lot.”
Of the incentives, Allstate is eligible for up to $17.8 million in potential refunds of withheld taxes for new jobs over 12 years, provided the company meets job creation and investment goals. These incentives are provided under the state’s Job Development Investment Program, or JDIG. An additional $5.9 million will go toward a fund to improve infrastructure in rural parts of the state.
In comparison, insurer MetLife was awarded $87.2 million in 2013 to create 2,600 jobs in Charlotte and Cary. According to the Commerce Department, MetLife’s job creation number is the largest associated with JDIG, followed by Allstate.
In May, AXA announced plans to hire 550 new employees in Charlotte over the next five years, nearly doubling its local presence in the latest boom in the local financial sector. After an $18 million expansion, AXA Insurance Company in Charlotte Pierce will have its largest location in the United States, Cooper’s office said in a statement.
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