Economic Development - Expansions and Relocations

[KJHburg]

Just now, Blue_Devil said:

Big moves from any of those companies would be great, but we know they are already happening. Here is hoping we get a surprise.

But we don't know how many jobs any of those companies might bring or add.  

[Blue_Devil]

Just now, KJHburg said:

But we don't know how many jobs any of those companies might bring or add.  

Very true, a big announcement from any of them would be great news. fingers crossed for a SouthEnd or Uptown office location.

[KJHburg]

2 hours ago, Blue_Devil said:

Very true, a big announcement from any of them would be great news. fingers crossed for a SouthEnd or Uptown office location.

But there are some other big office users newer to the market hovering too so it could be that one.  

[J-Rob]

[Blue_Devil]

10 minutes ago, J-Rob said:

Huh, that could be the Varo Bank announcement. I don't think that fits USAA or Vanguard. Maybe we are getting Stripe, Plaid, Chime, or Gemini. One can dream.

Edit: The more I look, the more I think its Varo with a big Job announcement focusing on Compliance, Risk, Audit, and Legal now that they have their Bank Charter.

Edited May 25, 2021 by Blue_Devil

[atlrvr]

Agreed, suspect it's Varo.

[KJHburg]

yes and the state would be involved if it is really big or at least announced by Charlotte Reg Business alliance.  

However Varo Bank is great add to our fintech market and like Robinhood is from the Bay area!  (Credit Karma has really been expanding here too also based in San Fran)   and we know how tech companies love to cluster.  So it makes Charlotte a good location for San Fran bay fintech and tech operations.  I think Google's announcement of their Durham 1000 job engineering hub sped up Apple's decision to get opened in the RTP too. 

 

Edited May 25, 2021 by KJHburg

[atlrvr]

Also, Credit Karma selling tax business to Square should see them grow that, but Credit Karma will keep office here post divesture focused on banking/lending products.

I know that was confusing but basically we are "net gaining" another Fintech after the merger.

[CLT2014]

1 hour ago, Blue_Devil said:

Edit: The more I look, the more I think its Varo with a big Job announcement focusing on Compliance, Risk, Audit, and Legal now that they have their Bank Charter.

Do the creative work in the Bay Area..... grow up.... and come to Charlotte to hire internal police officers / dream crushers LOL. 
Hopefully we get some software jobs, UX, product managers, and innovation roles out of this too.

Edited May 25, 2021 by CLT2014

[KJHburg]

Now San Fran bay area is good for innovation for sure but to scale a company it is harder to do today.  It is so expensive and being on the east coast where the majority of money and people is becomes very important.   And no they do find innovative smart people here in the southeast that have zero desire to move to Silicon Valley or San Fran. 

[Blue_Devil]

Speaking of Bank Compliance Jobs, JPM Chase has started hiring IRM Compliance roles here in Charlotte. Its only a few, so far, but they are not local support roles. 

[KJHburg]

Now the state is dropping major hints about new jobs:

N.C. Commerce

 

@NCCommerce

·

Last week, we announced more than 830 new jobs and capital investments exceeding $386 million for North Carolina! Stay tuned for more exciting #EconDev news. http://NCCommerce.com/news

[KJHburg]

Here you  go big expansion of Credit Karma which means the other 2 companies are still coming too as they are advertising jobs here:

from Ashley Fahey of the Charlotte Biz Journal 

Minimum average wage for the new Credit Karma positions is $156,605.
·

@CBJFahey
BREAKING: West Coast consumer technology company Credit Karma is adding 600 new jobs in Mecklenburg County between 2022-2026.

Edited May 25, 2021 by KJHburg

[KJHburg]

this will bring Credit Karma to about 800 people in Charlotte.

Credit Karma to add 600 jobs paying minimum of $156,000 in Charlotte | WRAL TechWire

[Blue_Devil]

Just now, KJHburg said:

this will bring Credit Karma to about 800 people in Charlotte.

Credit Karma to add 600 jobs paying minimum of $156,000 in Charlotte | WRAL TechWire

Now the question is are they staying in and expanding in Ballantine or relocating. Those wages are great though. 

[KJHburg]

Just now, Blue_Devil said:

Now the question is are they staying in and expanding in Ballantine or relocating. Those wages are great though. 

My bet is staying in Ballantyne as the landlord Northwood would easily let them move to larger office and break their lease.  and maybe to the new 11 story office building. 

[CLT2014]

37 minutes ago, KJHburg said:

My bet is staying in Ballantyne as the landlord Northwood would easily let them move to larger office and break their lease.  and maybe to the new 11 story office building. 

I agree. Sounds like our primary competition was Fort Mill too, which means they were looking around that part of the metro area. 

[KJHburg]

from the CEO and Charlotte leader of Credit Karma 200 jobs opening this year.  Will stay in Ballantyne.  Will be looking for people in analytics, data science, machine learning.  Working on core products, new money product, and their mortgage biz.  From the news conference and my notes on a back of an envelope. 

[Blue_Devil]

A few of us have talked about this before, but there was speculation Citibank would begin hiring in Charlotte, after the 2020 consent order. Citibank now has 15 open positions, many in the compliance and AML space, just posted with in the last week or so, here in Charlotte. Could Citi be opening a hub here? 

 

Edit: There are actually 32 open positions if you include Multiple location positions which allow of Charlotte. 

Edited May 27, 2021 by Blue_Devil

[Boricua]

Keep them coming!!!  https://www.bizjournals.com/charlotte/news/2021/05/27/usaa-charlotte-office-square-south-end.html?ana=TRUEANTHEMFB_CH&csrc=6398&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

[HopHead]

3 minutes ago, Boricua said:

Keep them coming!!!  https://www.bizjournals.com/charlotte/news/2021/05/27/usaa-charlotte-office-square-south-end.html?ana=TRUEANTHEMFB_CH&csrc=6398&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

750 new jobs from USAA! 600 from Credit Karma earlier this week. 1350 total between the two firms. Not a bad week in CLT! 

[CltFlyer]

35 minutes ago, Boricua said:

Keep them coming!!!  https://www.bizjournals.com/charlotte/news/2021/05/27/usaa-charlotte-office-square-south-end.html?ana=TRUEANTHEMFB_CH&csrc=6398&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

"The county was not approached by USAA for incentives on this expansion," says a statement from Mecklenburg County's office of economic development. "We are delighted USAA chose Mecklenburg, and to do so without incentives is a testament to what an exceptional place our county is to do business. We look forward to assisting USAA in any way we can in their growth here."

This is a very good sign if we are reaching this point.  Obviously all companies won't have this mindset, but it says a lot about how companies are starting to view Charlotte's potential.  

[KJHburg]

and less not forget with USAA a 90,000 sq ft lease at the Square:

""Fortune 100 financial services company USAA has confirmed it will open a Charlotte office. The company, headquartered in San Antonio, will hire about 750 employees in Charlotte — either onsite or in a hybrid model, USAA said Thursday afternoon. USAA is leasing six floors, or about 90,000 square feet, at The Square at South End, a 153,000-square-foot office building by Beacon Partners at the old Sauceman's restaurant site.""

from the Biz JOurnal 

and from my old hometown paper in San Antonio

USAA is adding a new Charlotte location (mysanantonio.com)

Edited May 27, 2021 by KJHburg

[KJHburg]

Going on vacation next week so I am sure Varo Bank will announce their new Charlotte office as they are already looking for people here in their non existent office LOL.

But what this means since the financial meltdown of 2008/2009 Charlotte has very successfully diversified its financial industry.  Not only 2 large banks anymore now Ally, US Bank, Truist, USAA, fintechs like Credit Karma,  Lendingtree, Robinhood, Better,com, Moodys, MUFG Union Bank  etc.  

and I believe there is a lot more to come!   a LOT more! 

In terms of incentives Google announced a 1000 job engineering hub without a penny of tax incentives in Durham.   

[Blue_Devil]

1 hour ago, KJHburg said:

and less not forget with USAA a 90,000 sq ft lease at the Square:

""Fortune 100 financial services company USAA has confirmed it will open a Charlotte office. The company, headquartered in San Antonio, will hire about 750 employees in Charlotte — either onsite or in a hybrid model, USAA said Thursday afternoon. USAA is leasing six floors, or about 90,000 square feet, at The Square at South End, a 153,000-square-foot office building by Beacon Partners at the old Sauceman's restaurant site.""

from the Biz JOurnal 

and from my old hometown paper in San Antonio

USAA is adding a new Charlotte location (mysanantonio.com)

Thats HUGE that USAA Picked the Square!!! A company known for boring Suburban office picked SouthEnd!!! WOOOOOOO