Watts Huckabee, President & Founder, Carolinas Insurance & Investment Group

In an interview with Invest:, Watts Huckabee, president and founder of Carolinas Insurance & Investment Group, discussed rising insurance and healthcare costs, workforce challenges, and York County’s rapid growth. “If you don’t evolve and change and grow with the times, then you become obsolete,” Huckabee said.

How would you describe the business climate in the Charlotte region and the Carolinas?

Our agency operates across employee benefits, commercial insurance, and personal lines. On the commercial side, since COVID, replacement costs have become outrageous. Businesses in this region are seeing their expenses rise dramatically, including insurance premiums, largely because of the level of development and economic activity here.

On the employee benefits side, medical claims trends are around 11% to 12% annually. That is a significant increase for any employer. Larger companies have an opportunity to move away from traditional healthcare plans and consider self-funded health insurance. That allows them to manage every claim dollar more closely.

That takes active management. We are working with employers to use strategies like direct primary care, pharmacy optimization, sourcing medications differently, and planning for large claims. The goal is to reduce overall costs over time by being more intentional with how healthcare dollars are spent.

How is regional growth creating new opportunities for your firm?

There is a lot of opportunity, and I do not see it slowing down in York County. We are bringing in advanced manufacturing, healthcare, fintech, and life sciences. That growth impacts the workforce, and you need to ensure you have the talent to support the industries you are trying to attract.

When I joined the county council in 2023, York County was the second-fastest-growing county in our region. That kind of growth requires constant adjustment. In my business, we have to evolve, and on the public side, we have to do the same. If we do not, the surrounding counties will take that growth.

We also have to be thoughtful about the types of businesses we attract. We want higher-paying jobs and strong tax revenue to support the county’s long-term needs.

What are business owners most focused on right now?

AI is a major focus. It is not going away, and it creates opportunities to operate more efficiently. The ability to quickly access information and improve processes is significant.

Company culture is also critical. Businesses are becoming more intentional, even conducting stay interviews to retain employees rather than waiting for turnover. That reflects a shift toward investing in employees long term.

I just turned 60, and I recognize that my generation can sometimes resist change. Over the past five years, I have worked to step back and allow our leadership team to take on more responsibility. They now make over 80% of the decisions.

As a business owner, you need to decide whether you want the company to depend on you or on a broader leadership structure. If you ever want to step away or sell, the business cannot rely solely on you. If you don’t evolve and change and grow with the times, then you become obsolete.

How are rising healthcare costs shaping company decisions?

It depends on the size of the employer. Smaller companies have fewer options, but larger ones can manage costs more effectively. The first step is transparency. Employers need to know exactly what they are paying and where the money is going.

The second step is actively managing claims. Without that, you are not getting the most value from your healthcare spend.

One of the biggest issues is that people do not know what care costs. For example, a procedure performed at a hospital might cost significantly more than the same procedure at a surgical center. Those differences can create major savings opportunities for employers.

Over time, healthcare is moving toward greater transparency. The goal is to direct employees to providers that offer both high quality and lower cost. That combination is the most effective way to control expenses while still delivering strong benefits.

How are expectations evolving around employee benefits and retirement planning?

Retirement planning is a major concern. Many Americans have little saved, and a large percentage live paycheck to paycheck. A lot of people were never taught how to manage their money.

Employers have an opportunity to help by teaching budgeting, debt management, and saving habits. That can create long-term benefits not only for employees but for their families as well.

Employees at different life stages have different needs. Younger workers are focused on buying homes and starting families, while others are thinking about college costs or retirement. Financial education is critical, and it is starting to gain more attention, which is a positive development.

There is a real opportunity to help people get out of debt, build savings, and change long-term financial habits.

From your perspective in public service, what are the key infrastructure priorities?

York County is growing rapidly. Today, we have about 300,000 residents, and in 25 years, that number is expected to double to 600,000. That growth requires significant investment in infrastructure, including schools, roads, water, sewer, fire, and police.

Much of that growth will occur in unincorporated areas, which are not part of any city. Over time, those areas will begin to function more like cities, which means we have to plan for that transition.

Infrastructure costs have increased significantly. For example, road construction costs have more than doubled since COVID. That puts pressure on county budgets, which are already large and complex.

How should York County approach this growth?

We have an opportunity to be intentional. In unincorporated areas, we can plan development in a way that balances growth with preservation. That means maintaining green space, supporting agriculture, and creating thoughtful communities.

We also need to create town centers in these areas. Cities naturally develop downtown areas, but counties have to plan for that. These centers give residents access to services and create a sense of community.

It is like working with a blank canvas. We have the chance to shape what these areas will look like in the future. If we do it well, we can create a strong balance between growth, quality of life, and economic opportunity.

What opportunities stand out for the region moving forward?

The I-77 corridor is a major opportunity. There is a push to be intentional about development along that corridor, from Carowinds down through Chester and toward Columbia.

York County is in a unique position. Growth is creating challenges, but it is also creating opportunities to shape the future. If we plan carefully and remain intentional, we can build something that supports businesses and residents for generations to come.