RALEIGH, N.C. (AP) -- North Carolina and local officials remain bullish on the 500 production jobs at a new Herbalife Ltd. plant near Winston-Salem despite a slide in the supplement-maker's stock since a hedge-fund manager called the company a huge pyramid scheme.
Business recruiters said Friday they're convinced the promised jobs and seeing Herbalife buy and revamp a defunct Dell Inc. computer factory remains a good deal. Herbalife was promised about $10 million in tax breaks and other incentives from North Carolina, Forsyth County and Winston-Salem if the jobs are retained for up to 11 years.
Winston-Salem Mayor Allen Joines says Herbalife has been around for three decades and reports good sales and profits. Joines and others say that the public incentives are based on performance, so no jobs means no tax breaks.