The Carolina Triangle
MetLife is bringing 2,600 jobs to North Carolina! It is relocating to Charlotte and Cary because N.C. is such a great place for business and it will save money consolidating.
But the fine print says we have no idea how may jobs North Carolinians will really get because MetLife will be relocating employees from the 30 locations in the Northeast it is eliminating.
To reward MetLife for a decision that saves it $600 million per year but creates only an unknown number of jobs for North Carolinians, the legislature is giving MetLife $100 million of taxpayer money. At the same time, it is cutting money for schools, infrastructure and other programs that ultimately benefit everyone.
This is just another example of the Carolina Triangle – that mysterious confluence of corporations, the legislature and the governor – where hundreds of millions of taxpayer dollars vanish without a trace.