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.
Investing in Retail
Life insurers provide more than 700 mortgage loans in the state totaling $3.1 billion. These loans were in smaller-sized cities like Mount Airy, Kinston 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 $2.3 billion 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 $1.2 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 purchased $924 million in bonds issued by education-based entities in the state.
Investing in Infrastructure
The North Carolina Turnpike Authority, the Charlotte Airport, the North Carolina Eastern Municipal Power Agency 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, $575 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, Rocky Mount, Elizabeth City and more have received financing to start or improve and expand their farms. In all, life insurers have provided $222 million in agricultural mortgage loans in the Tar Heel State.