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North Carolina’s economy takes a $1B hit in project cancellation


greensboro

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RALEIGH – Announcements of layoffs continue to occur, from companies both large and small.  But another change to the state’s labor market is coming due to a growing number of firms that are deciding to back out of agreements made with the state, as Centene did last week.

The Fortune 50 healthcare company, which had planned a 3,200 employee east coast hub located in University City in Charlotte, has cancelled plans to invest $1 billion in the region, according to multiple reports published by the Charlotte Business Journal and other media outlets.

 

In a statement, the company said changing workforce needs played a key role in the decision:

 

“Since announcing our plans to establish an East Coast headquarters in Charlotte, North Carolina, there has been a fundamental shift in the way people want to work. Today, almost 90% of our workforce is working fully remote or in a hybrid work environment, and workplace flexibility is essential to attracting and retaining our top talent.”

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