Insurance company AXA plans to add 550 jobs in Charlotte over the next five years, nearly doubling its local workforce.

“We know from our experience that Charlotte is a great place to attract a talented workforce, allowing us to grow our business and better serve our customers,” Mark Pearson, chairman and CEO of AXA US, said in a statement, according to the Charlotte Observer.

North Carolina officials announced the move Tuesday after approving state tax breaks that could be worth nearly $12 million. The addition to 610 existing jobs will make Charlotte AXA’s largest U.S. location, though headquarters will stay in New York City.

AXA’s Charlotte jobs will pay an average of nearly $110,000 a year and include IT, finance, legal, accounting, customer service and other functions.

French insurance multinational AXA has about 107 million clients in 64 countries.