A big part of the working capital that helps North Carolina open its doors to families, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $180 billion in North Carolina’s economy with agricultural loans, education bonds, retail mortgages and more. We are here to strengthen communities and families across the Tar Heel State.
Investing in Retail
Life insurers have provided the financing for 591 mortgage loans in
the state, totaling nearly $2.7 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 $2.8 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 $1.5 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 $704 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, over $440 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 $334 million in recent years in agricultural
mortgage loans in the Tar Heel State.