North Carolina terminated one of the largest economic projects in the state’s history after generating no new jobs.
The state’s Economic Investment Committee agreed this week to end the incentives agreement with insurance company Allstate, which could have pocketed as much as $17.8 million if it met job-creation goals.
In 2017, Allstate pledged to add 2,250 new employees by 2020 at its operations center in Charlotte. It was considered at the time to be one of the largest job-creation projects in state history.
In a letter to the committee, Allstate said the surge in remote work made it challenging for the company to comply with its initial hiring commitment.
Most of Allstate’s North Carolina workers are not in an office work location and are therefore ineligible to be counted as project site employees for the program.
At the end of 2022, only 213 of Allstate’s North Carolina employees were physically working at the Charlotte campus.
State records show that Allstate has spent at least $34 million on expanding its Charlotte site.
