Charlotte just landed one of its biggest financial expansions in years.
Sumitomo Mitsui Banking Corporation (SMBC) announced Tuesday it will build a new U.S. headquarters in Charlotte. The Tokyo-based bank plans to invest $50.5 million by 2027 and create 2,000 jobs, with about 1,800 hires locally.
“As SMBC continues to grow substantially in the United States, Charlotte is a standout location for us to invest in North Carolina for the long term in a major expansion that will establish our roots in the community,” said SMBC CEO Hirofumi Otsuka in a press release. “A major financial services hub, Charlotte has a deep pool of talent that we will tap into and help build out as we position our bank for long-term success while contributing to the broader local economy. We appreciate the support of Governor Stein and other public leaders as we set out to create 2,000 jobs over the next six years.”
The expansion will support SMBC’s banking, leasing, securities, and consumer finance operations as it grows its U.S. presence. State officials estimate the project will generate $13.4 billion in economic impact.
North Carolina continues to attract strong Japanese investment. More than 230 Japanese companies already operate in the state, including major projects from Toyota and Fujifilm.
The move also follows recent restructuring by SMBC, including plans to sell parts of its Los Angeles-based banking business and wind down its digital division.
The new headquarters will bring thousands of high-paying jobs and further advance Charlotte’s goal to become America’s leading banking center.
