Citigroup will invest $16.1 million to establish a major office facility in Charlotte, creating 510 new jobs.
“As we reviewed our real estate footprint in the United States, Charlotte stood out as a location where we had a unique opportunity to invest by establishing a formal presence,” said Edward Skyler, Citi’s Head of Enterprise Services & Public Affairs. “This will create a better working environment for our existing colleagues as well as allow us to further tap into the deep pool of talent in this market. We appreciate the work Governor Stein and other public officials have done to make this area so attractive to businesses, and we look forward to playing a larger role in Charlotte’s growth over the coming years.” Jobs include finance, risk management, client credit management, U.S. personal banking, compliance risk management, private bank wealth management and human resources support services, with an annual average salary of $133,435, above the MSA average.
“We’re seeing unprecedented activity in the office sector, especially in financial services,” said Robert McCutcheon, president and CEO of the Charlotte Regional Business Alliance. “With more than 104,000 financial services employees and a reputation for regional competitiveness, the Charlotte Region continues to attract major players. Citigroup Technology’s decision to establish its technology hub here underscores the strength of our talent pipeline and the strategic advantages we offer.”
What began as a temporary move during the pandemic is now evolving into a major expansion of Citigroup in Charlotte. The new office facility will accommodate 785 employees, which includes about 275 employees who currently work in the Charlotte region and will be relocated to the new office.
“Citi’s decision makes clear once again that Charlotte is one of the nation’s top financial centers,” said Governor Josh Stein, who first announced the news 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.”
Citi plans to announce a final site selection later this year.
“We’re thankful to Citigroup for choosing Charlotte and for their investment in our city,” said Mayor Vi Lyles. “This is a huge endorsement of the highly talented workforce found in our city. This also demonstrates Charlotte’s strength and why residents should be optimistic about our city’s bright future.”
Charlotte is the second largest finance center in the United States.
“This investment by Citigroup aligns with the Board’s commitment to economic growth, workforce development, and reducing disparities across our community,” said Mecklenburg Board of County Commissioners Chairman Mark Jerrell. “It’s a win for our residents, bringing high-quality jobs and advancing Mecklenburg County’s long-term priorities.”
Citi is one of the world’s leading banking institutions, partnering with organizations with cross-border needs, serving as a global leader in wealth management, and becoming known as a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.
This project was a collaborative effort between the City of Charlotte, Mecklenburg County, the North Carolina Department of Commerce, the General Assembly, the Economic Development Partnership of North Carolina and the North Carolina Community College System.
