The jobs announcement gave the governor and legislators a chance to celebrate, but the Met Life incentives are quickly becoming the story.
The state Economic Investment Committee voted Thursday morning to approve a Job Development Investment Grant of up to $87.2 million for MetLife. Under the grant, the company is able to receive a rebate of 75 percent of the state withholding tax on its new jobs over a 12-year period if it meets set hiring and investment targets each year.
MetLife also qualified for up to $2 million from the One North Carolina Fund, which provides financial assistance to attract business projects to the state. Local governments must match the grant, and the company receives no upfront money and must meet hiring and investment targets to obtain the funds.
Update: N&O’s John Frank just pointed out that Moore & Van Allen, the governor’s former employer, was one of the firms that represented MetLife during negotiations with the state.
And here’s the Powerball story via the lottery people:
RALEIGH – Someone who played the lottery at the Food Lion on 1901 Leesville Road in Raleigh is the owner of a Powerball ticket worth $2 million.
The $3 Power Play ticket matched all five white balls but not the Powerball in Wednesday night’s drawing, beating odds of 1 in 5.1 million.