Adrian JohnsonTLDR:
– Bandwidth, a technology company based in North Carolina, has left its incentive agreement with the state.
– The company had planned to add 1,200 jobs as part of its expansion, but has only added 87 jobs so far.
– Bandwidth cited the acquisition of a Belgium-based company as a reason for its withdrawal from the grant agreement.
North Carolina technology company Bandwidth has withdrawn from its incentive agreement with the state after failing to meet job creation goals. Bandwidth had announced plans in 2020 to add 1,200 jobs as part of its expansion efforts, but has only added 87 jobs so far. The company’s chief financial officer, Daryl Raiford, cited the acquisition of a Belgium-based company as a reason for the lack of job growth. Bandwidth will not receive the $32 million in cash incentives that were initially approved for the project. The company sells software for voice, message, and emergency services applications and has clients such as Cisco, Google, Microsoft, and Amazon Web Services.
