Charlotte is getting 301 more financial services jobs with insurer Pacific Life planning to invest $12.3 million in a Mecklenburg County office, according to Gov. Josh Stein’s office. The jobs will average $176,250, more than double the average wage in the county.
The Newport Beach, California-based company secured an 11-year, 68,000-square-foot lease in three floors at the Queensbridge Collective building in Charlotte’s South End neighborhood. Full occupancy is expected in 2028.
“Charlotte’s national reputation as one of the nation’s top financial services centers continues to attract great companies to our state,” Stein said in an email.
State officials approved a $5.5 million Job Development Investment Grant over the next 12 years. Payments hinge on meeting job and investment targets.
“Attracting and developing leading talent is central to Pacific Life’s growth strategy,” said Pacific Life CEO Darryl Button. “Charlotte is home to a thriving workforce, and we look forward to welcoming new talent to the Pacific Life team to help drive our long-term success.
Additional incentives from the city of Charlotte and Mecklenburg County are expected to be discussed at upcoming meetings. During the past year, the region attracted major financial services expansions, including Citigroup, AssetMark
Pacific Mutual Life was founded in 1868 by former California Gov. Leland Stanford in Sacramento. It is among the largest U.S. insurance companies, overseeing $239 billion in assets. It is among the nation’s largest mutually owned businesses, with policyholders owning the company.
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.