A big part of the working capital that helps North Carolina open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $190 billion in North Carolina’s economy with agricultural loans, education bonds, retail mortgages and more. We are here to strengthen businesses and communities across the Tar Heel State.
- $149 billion in stocks and bonds that help finance business development and create new jobs
- $24 billion in real estate, loans and other investments
- $16 billion in mortgage loans on farms, residential, and commercial property
Investing in Retail
Life insurers have provided more than 700 mortgage loans in the state of nearly $3.2 billion. These loans were in smaller-sized cities like Rockingham, Boone and Lumberton and large North Carolina cities like Charlotte, Durham and Raleigh. These investments play an important role in job growth in the state. Some 27 percent of North Carolina jobs are supported by retail, according to the National Retail Federation.
Investing in Office Space
North Carolina is known for its beaches, tobacco, great college basketball teams and more. But the Tar Heel State is also a hub for business and commerce, which life insurers support. They have provided more than $2.4 billion in recent years in mortgage loans for office space in Charlotte, Winston-Salem, Raleigh and more.
Investing in Industry
Industries in North Carolina – based in Burlington, Greensboro and Asheville and more -- rely on financing from life insurers. In all, life insurers have provided nearly $1.3 billion in industrial mortgage loans.
Investing in Education
The University of North Carolina, North Carolina State University, Wake Forest University and Duke University all received financing from life insurers. So too did school districts throughout the state. In all, life insurers have $784 million invested in bonds issued by education-based entities in the state.
Investing in Infrastructure
The North Carolina Turnpike Authority, airports in Charlotte and Raleigh, the North Carolina Eastern Municipal Power Agency, the Winston-Salem Water & Sewer System, and the Cape Fear Public Utility Authority are just some of the infrastructure-based agencies that have issued bonds purchased by life insurers. In all, nearly $400 million in industry investments help keep the state on the move and ensure its residents have clean water to drink.
Investing in Agriculture
Farmers in Roanoke Rapids, Elizabeth City, Concord and more have received financing to start or improve and expand their farms. In all, life insurers have provided $342 million in recent years in agricultural mortgage loans in the Tar Heel State.