San Francisco-based SoFi plans to expand its East Coast presence with an office in Charlotte, where it plans to add 225 jobs by 2030.
The 225 jobs would pay an average wage of $108,436, almost 25% higher than Mecklenburg County’s current average wage of $86,830. The workers would be involved in global operations, risk management and mortgage equity management.
The mostly online and mobile-based bank will also invest $3 million in making the move. SoFi employs about 2,800 workers in 14 U.S. locations, and also has a presence in Hong Kong, Latin America and Switzerland.
The state’s Economic Investment Committee, which is part of the N.C. Department of Commerce, on Tuesday approved a Job Development Investment Grant totaling about $2.3 million, including $500,000 worth of workforce training. Mecklenburg County and the city of Charlotte will add local incentives totaling about $80,000. Those incentives will be paid out over a period of 12 years if SoFi hits investment and job creation targets.
It was not stated where SoFi plans to locate, and company officials did not immediately respond to a request for comment. However, the economic development grant includes a provision for SoFi to retain approximately 130 employees it already has in the state.
SoFi chose Charlotte after narrowing down its choices to cities including Jacksonville, Florida, and Frisco, Texas, a suburb of Dallas. Factors in that decision were the economic incentives package, available labor and geography, according to the state.
