‘Project Diamond’ to create 200 jobs at future jewelry insurance center in Raleigh

A national jewelry insurer is coming to Raleigh, as Jewelers Mutual Insurance Company announced Tuesday plans to create 200 jobs at a future North Carolina “innovation” hub. Headquartered in Wisconsin, Jewelers Mutual promises to add these positions between 2025 and 2029 and invest $5.85 million in the facility before the end of next year.

The Raleigh location will focus on “data solutions that advance a personalized customer experience” online, Mark Poole, director of commerce finance at the North Carolina Department of Commerce, told the state’s Economic Investment Committee.

Raleigh edged out 14 other cities for the site, which was nicknamed “Project Diamond,” with the last finalist being Dallas. The company says it was drawn by the Triangle’s technical and engineering talent. Jewelers Mutual pledged minimum average wages at the center will be $169,592 — though a subsequent press release from Gov. Roy Cooper’s press office noted “wages will vary depending on the position.”

Jewelers Mutual was unable to share the location of its Raleigh facility, with a company spokesperson telling The News & Observer “It’s a bit too soon.”

North Carolina will support this new facility with economic incentives. On Tuesday, the state awarded the 111-year-old company a job development investment grant worth $2.47 million, which will be distributed after Jewelers Mutual meets annual hiring and spending targets. An additional $764,000 will be allocated to support workforce development.

Combined, Wake County and Raleigh will offer the company incentives worth $150,000.

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