Citigroup Announces $16.1 Million Expansion in Charlotte – Adding 510 New High-Wage Jobs

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best city in americaCitigroup has just announced plans to launch a major expansion here in Charlotte, creating 510 new jobs and investing $16.1 million in a new facility.

The expansion will grow the company’s local presence in areas including personal banking, finance, and marketing.

“Citi’s decision makes clear once again that Charlotte is one of the nation’s top financial centers,” said Governor Josh Stein in a press release. “North Carolina offers a specialized and highly skilled workforce along with a friendly business climate. Our state will continue to invest in the education and workforce programs that keep North Carolina one of the best places to do business.”  

The average salary for the new positions is expected to be $131,832—well above Mecklenburg County’s average wage of $86,830. The added roles are projected to generate an annual payroll impact of more than $65 million for the region.

To support the project, the North Carolina Economic Investment Committee approved a Job Development Investment Grant (JDIG) for Citigroup Technology, Inc. The 10-year grant could reimburse the company up to $8.9 million, contingent on job creation and investment milestones.

State officials estimate the project will contribute more than $2.7 billion to North Carolina’s economy during the grant period.