News Summary
Citigroup has announced plans to create over 500 new jobs in Charlotte, North Carolina, fueled by a $16.1 million investment. This expansion is expected to enhance the local economy and solidify Charlotte’s position as a financial hub. With average salaries projected at $131,832, the investment will also involve the construction of a new office in Mecklenburg County. Governor Josh Stein praised the initiative for benefiting the region’s workforce, alongside other firms like AssetMark, which plan similar expansions.
CHARLOTTE, NC – Citigroup, one of the largest banking institutions in the United States, has announced plans to create over 500 new jobs in Charlotte, North Carolina as part of a $16.1 million investment in the city’s workforce. This significant move solidifies Charlotte’s standing as a key financial hub in the nation. The announcement was made by North Carolina’s Governor Josh Stein, highlighting both the expansion of Citigroup’s footprint and the importance of the region’s skilled workforce.
The investment will primarily support the establishment of a new office in Mecklenburg County, with the aim of boosting employment in sectors such as personal banking, finance, and marketing. Governor Stein noted that this decision by Citigroup showcases North Carolina’s favorable business climate, which is complemented by a highly specialized workforce.
In detail, Citigroup plans to hire 510 workers by the year 2027, with the average annual salary for these positions projected to be $131,832. This figure is significantly higher than the average wage in Mecklenburg County, which is $86,830. The state has also approved an $8.9 million job development investment grant that will assist in funding this ambitious project, with conditions requiring Citigroup to retain approximately 385 existing employees in North Carolina.
As part of its strategic growth, Citigroup will develop a major office facility that is expected to enhance both the working environment for current employees and attract new talent. The types of roles being filled will predominantly focus on support services, risk management, client credit, personal banking, and financial risk.
The timeline for the availability of these new jobs has yet to be established, but Citigroup’s proactive approach aligns with the ongoing trends in Charlotte’s financial sector, where demand for skilled workers continues to rise. Local tax incentives from the city of Charlotte and Mecklenburg County will contribute approximately $375,000 toward this investment.
In addition to Citigroup’s expansion, another financial firm, AssetMark, also plans to invest significantly in Charlotte. AssetMark is set to invest $10 million to create 252 new jobs in the area by the end of 2027, with an average salary of at least $110,518. This initiative will receive $1.9 million in state tax incentives alongside an additional $900,000 designated for job training efforts. The city and county will concurrently provide a combined $470,000 in local tax incentives to AssetMark.
Charlotte’s appeal as a prime location for financial services businesses is underscored by its competitive offerings compared to other major cities, having been selected over Atlanta and Phoenix for the AssetMark project. AssetMark currently supports nearly 4,300 advisors and entered 2025 with over $139 billion in platform assets, further exemplifying the city’s burgeoning status in the financial domain.
As these firms expand and invest in new opportunities, Charlotte is poised to enhance its economic landscape, providing valuable employment for residents and reinforcing its reputation as a leading national financial center.
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Additional Resources
- Reuters
- Wikipedia: Charlotte, North Carolina
- WBTV
- Google Search: Citigroup expansion Charlotte
- Business North Carolina
- Google Scholar: Charlotte financial services
- Charlotte Observer
- Encyclopedia Britannica: Charlotte
- Seeking Alpha
- Google News: financial jobs Charlotte
- Axios
Author: HERE Charlotte
The CHARLOTTE STAFF WRITER represents the experienced team at HERECharlotte.com, your go-to source for actionable local news and information in Charlotte, Mecklenburg County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Lovin' Life Music Festival, Charlotte Pride festival, and major sporting tournaments at Bank of America Stadium. Our coverage extends to key organizations like the Charlotte Regional Business Alliance and Foundation for the Carolinas, plus leading businesses in finance and entertainment that power the local economy such as Bank of America and NASCAR. As part of the broader HERE network, including HEREAsheville.com, HEREGreensboro.com, HERERaleigh.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
