02/17/2020 | Press release | Distributed by Public on 02/17/2020 16:34
Atlantic Casualty Insurance Company, a national provider of commercial insurance products, will create 83 jobs as it expands its Wayne County headquarters, Governor Roy Cooper announced today. The company will invest more than $11.8 million in Goldsboro.
'Atlantic Casualty will bring more jobs and investment to Wayne County, which is good for eastern North Carolina's people and our economy,' said Governor Cooper. 'When companies choose to expand in North Carolina, we know our state is doing the right things to grow our workforce.'
Atlantic Casualty Insurance Company, a wholly owned subsidiary of Auto-Owners Insurance Group, is a specialty provider of commercial insurance for hard-to-place risks. Headquartered in Goldsboro with offices in Glastonbury, Connecticut, Richmond, Virginia and Scottsdale, Arizona, the company operates in 49 states and has earned an A rating from A.M. Best, classifying the company's financial strength as Excellent. The project in Goldsboro will include a significant expansion of the company's existing 28,850 square foot facility by constructing a new 30,000 square foot office building.
'We are excited to be expanding our home office here in Goldsboro. Our business was founded 37 years ago and we look forward to continuing our support in this great community and in the State of North Carolina,' says Bret Strickland, President & Chief Executive Officer of Atlantic Casualty.
'Financial services companies like Atlantic Casualty have always done well in our state,' said North Carolina Secretary of Commerce Anthony M. Copeland. 'The concentration of these companies in North Carolina speaks to our favorable business climate and to our ability to provide the skilled and available workforce they need.'
The North Carolina Department of Commerce led the state's support for the company during its site evaluation and decision-making process.
Salaries for the new jobs will vary by position but the average annual wage will be $54,398. The Wayne County average annual wage is $35,485.
A performance-based grant of $250,000 from the One North Carolina Fund will help facilitate Atlantic Casualty's expansion in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
'Atlantic Casualty is a valued employer in Goldsboro and Wayne County,' said N.C. Senator Jim Perry. 'We welcome this new expansion and will work with the company and its employees as they grow. This announcement is good for Wayne County, but it also helps eastern N.C. Countless studies have shown economic impact is regional, and does not stop at imaginary county lines.'
'It's great to see companies who know us best decide to expand their business in North Carolina,' said N.C. Representative Raymond E. Smith, Jr. 'Companies like Atlantic Casualty have many locations to choose from when they expand, so it's a welcome vote of confidence that they've chosen to expand their business in Wayne County.'
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Transportation, Duke Energy, the Golden LEAF Foundation, North Carolina's Southeast, Harry & Mollie, LLC , Wayne County, the City of Goldsboro, and the Wayne County Development Alliance.