North Carolina Economic Development Guide

2014

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The MetLife's North Carolina operations also will receive a benefit from Charlotte-based Duke Energy Corp., which offered its economic-development incentive in return for a long-term contract. It cuts 20% off the insurer's first-year power costs, 15% the second year, 10% in the third and 5% in its final year. "It's significant," says John Geib, Greensboro-based director of economic development for Duke Energy Carolinas. "This program might be worth $4 million to $5 million for a large data center." Companies must meet job, investment and consumption criteria to get it, and the N.C. Utilities Commission monitors the program to gauge the effect on utility rates. "MetLife meets all those thresholds with room to spare." Office relocation projects don't always create such excitement among economic developers at the largest utility in the nation. "We usually focus our limited resources on manufacturing," Geib says. But such operations are important, especially when they involve a marquee name. "Supporting a company like MetLife's relocation to the Carolinas is smart business for Duke. When a Fortune 500 company announces it's moving 2,600 jobs into our service area, that enhances the brand of our service area." Secretary Decker thinks MetLife's arrival says all the right things about the state's brand. "It shows North Carolina is a great place to do business." Central to that brand is talent — in terms of well-trained workers already here and others from around the world who need little coaxing to relocate. Accessibility, affordability and livability are common among communities in North Carolina, but each is unique, capable of accommodating the needs of a variety of companies and workers. "We're talking with a number of companies in North Carolina today about bringing other divisions here, but they may or may not be located in the same town or city. That's part of our strategy." NC ECO NOMI C DE V ELOP MEN T GU IDE co-op program gave me the chance to learn more about TCOM and really apply what I'd learned in the classroom. Bradley Perkins, Electronics Technician, TCOM love And that's why I Elizabeth City. For Bradley Perkins and Rick Anderson, electronics technicians working on air defense and surveillance airships and aerostats, every day is busy keeping sealer machines in top working order. Bradley took electronics courses at Gates County High School, and then enrolled in College of the Albemarle where he learned about TCOM through a co-op program. Rick is completing the same program. "We're the behind-the-scenes backbone of the company," says Bradley. "What we do here is important." Education. Just one more reason Elizabeth City is a smart choice. To tap into our workforce, call the Elizabeth City | Pasquotank County Economic Development Commission toll-free at 1-888-338-1678. ElizabethCityPasquotankEDC.com

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