ANNOUNCEMENT 07 Mar 2013In March 2013, a US state government announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Main data from Good Jobs First at http://www.goodjobsfirst.org/sites/default/files/docs/Megadeals_February2015.xlsx.
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-create-over-2600-jobs-north-carolina.
In 2013 state and local governments in North Carolina provided a subsidy package for the relocation of insurer MetLife's 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.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.