West Coast insurance giant to bring 301 jobs to Charlotte in $12.3M expansion
By Elise Franco – Staff Writer, Charlotte Business Journal
Oct 28, 2025
California-based Pacific Life Insurance Co. plans to bring 301 jobs to Charlotte.
The Fortune 500 company will make a $12.3 million investment to expand its business operations, said North Carolina Gov. Josh Stein in a news release today. Pacific Life, headquartered in Newport Beach, will lease 68,000 square feet of office space at Queensbridge Collective, according to the release.
The company is leasing three floors in the project's second building, a 43-story tower that is under construction now. Pacific Life is expected to move into the space in 2028. It will lease temporary space nearby in the interim.
CBRE, which leases Queensbridge Collective, was not immediately available for comment.
Darryl Button, Pacific Life CEO and president, said the ability to attract and develop talent is central to the company's growth strategy. Investing in the Charlotte market allows it to do that.
“Charlotte is home to a thriving workforce, and we look forward to welcoming new talent to the Pacific Life team to help drive our long-term success," he said in the release. "This expansion effort was a true partnership between many in North Carolina."
Wages will vary by position, but total annual compensation for new positions will be $176,250. The new jobs will generate an annual payroll impact of more than $53 million, according to the release.
The project will be facilitated, in part, by a Job Development Investment Grant approved earlier today by the state’s Economic Investment Committee. Over the course of the grant's 12-year term, the project is estimated to grow the state’s economy by $2.1 billion. The JDIG agreement authorizes potential reimbursement to the company of up to $5.53 million over that period.
“Companies like Pacific Life know they can find the deep pool of specialized talent they need in North Carolina,” Stein said. “Charlotte’s national reputation as one of the nation’s top financial services centers continues to attract great companies to our state. We’re proud to welcome Pacific Life.”
Queensbridge Collective's second tower will include 356,000 square feet of office space across the top 17 floors and 346 multifamily units at the bottom half. Construction began on the tower in September after Moore & Van Allen, Charlotte's largest law firm, finalized a 15-year lease for 206,000 square feet across the top nine floors.
The project's first phase, a 42-story multifamily tower at 111 E. Carson St., is expected to deliver in the fourth quarter of this year. The tower, called Vivian, has 409 studio, one-, two- and three-bedroom units as well as penthouses. Construction began in May 2023, and topped off this February.
The tower also includes several ground-floor retail tenants. Chicago-based FARE signed a lease in March for a 1,500-square-foot restaurant space; Guard and Grace, a concept by Denver-based TAG Restaurant Group, will open in 2026; and Charlotte-based Night Swim Coffee is expected to open soon.
Chicago-based Riverside Investment & Development, alongside partners Woodfield Development and PGIM Real Estate, is developing the $725 million mixed-use project. It's located on the edge of uptown and South End.