Current:Home > NewsJohnathan Walker:North Carolina cancels incentives deal with Allstate for not attracting enough jobs in Charlotte -AssetLink
Johnathan Walker:North Carolina cancels incentives deal with Allstate for not attracting enough jobs in Charlotte
Charles Langston View
Date:2025-04-08 21:22:00
RALEIGH,Johnathan Walker N.C. (AP) — Allstate won’t receive financial incentives from North Carolina that were part of a plan six years ago to add more than 2,200 workers in Charlotte. The insurance giant said rapid expansion of remote work made reaching that in-person jobs requirement impracticable.
The state Economic Investment Committee agreed on Tuesday to end a 2017 incentives agreement with Allstate, which could have received up to $17.8 million in cash grants had it met job-creation goals, The News & Observer of Raleigh reported.
To great fanfare in 2017, Allstate pledged to add at least 2,250 new employees by 2020 at its operations center. It was considered at the time one of the largest job-creation projects in recent state history.
The surge in remote working, which took off during the COVID-19 pandemic, made it challenging to meet the company’s hiring commitment, an Allstate executive wrote the committee earlier this month.
At the end of 2022, only 213 of Allstate’s North Carolina employees were physically working at the existing Charlotte campus, said Eric Steffe, the company’s director of global corporate real estate.
“We’ve concluded that our new workplace model is incompatible with (the grant program) rules,” Steffe wrote. “Under our policies, the vast majority of our North Carolina employees are no longer directly associated with a physical work location and are therefore ineligible to be counted as project site or (grant) remote employees.”
North Carolina paid nothing to Allstate from the initial incentives agreement through the Job Development Investment Grant program. Local governments have paid cash grants of $1.4 million, the newspaper reported.
Steffe said the company continues to view North Carolina “as a strategic market to attract talent, and an excellent place for our employees to reside.”
Since North Carolina began awarding Job Development Investment Grant incentives 20 years ago, grants that terminated early have outnumbered completed grants by a more than 3-to-1 margin, according to an analysis by the newspaper.
veryGood! (491)
Related
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- 2 children dead, 11 injured in mass stabbing at dance school's Taylor Swift-themed class
- Tom Daley’s Son Phoenix Makes a Splash While Interrupting Diver After Olympic Medal Win
- Best of 'ArtButMakeItSports': Famed Social media account dominates Paris Olympics' first week
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Man who followed woman into her NYC apartment and stabbed her to death sentenced to 30 years to life
- Mississippi’s capital city is catching up on paying overdue bills, mayor says
- Two men killed in California road rage dispute turned deadly with kids present: Police
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Accusing Olympic leaders of blackmail over SLC 2034 threat, US lawmakers threaten payments to WADA
Ranking
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Orioles pay pretty penny for Trevor Rogers in MLB trade deadline deal with Marlins
- Coco Gauff ousted at Paris Olympics in third round match marred by controversial call
- Aggressive Algae Bloom Clogged Water System, Prompting Boil Water Advisory in D.C. and Parts of Virginia
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Pregnant Francesca Farago and Jesse Sullivan Reveal Sex of Twin Babies
- When's the next Federal Reserve meeting? Here's when to expect updates on current rate.
- Dan + Shay’s Shay Mooney and Wife Hannah Billingsley Expecting Baby No. 4
Recommendation
The Daily Money: Spending more on holiday travel?
Mississippi won’t prosecute a deputy who killed a man yelling ‘shoot me’
One Extraordinary Olympic Photo: Christophe Ena captures the joy of fencing gold at the Paris Games
Olympic medals today: What is the medal count at 2024 Paris Games on Tuesday?
A South Texas lawmaker’s 15
Tom Daley’s Son Phoenix Makes a Splash While Interrupting Diver After Olympic Medal Win
ACOTAR TV Show Update Will Have Book Fans Feeling Thorny
Lawsuit says Norfolk Southern’s freight trains cause chronic delays for Amtrak