Gov. John Bel Edwards and CenturyLink CEO Jeff Storey officially sealed the deal to keep Louisiana’s largest public company headquartered in Monroe through 2025, according to the News Star.
Last month, USA Today Network reported that CenturyLink was considering moving its headquarters out of Louisiana.
“CenturyLink is pleased to reaffirm our commitment to Louisiana,” Storey said. “As we continue to evolve into a leading global technology company, our talented employees in Northeast Louisiana will continue to play important roles in our transformation.”
CenturyLink’s new agreement with the state allows the company to secure up to $2.5 million annually in state grants based on the size of the company’s Louisiana payroll, which is currently about 2,200 workers. The company’s annual payroll is approximately $200 million, reported the Star.
“Our goal is to give the company the opportunity to be successful in Monroe and Louisiana and retain and grow that footprint,” Louisiana Economic Development Secretary Don Pierson said.
The deal also provides $2 million to Louisiana Tech University to develop future talent for CenturyLink. Storey added, “A highly trained workforce is key to our continued success.”
State Sen. Francis Thompson said the deal is an example of how government and business can work together to, “act as a catalyst for growth and inject a sense of confidence in the market.”
April 15, 2019