Citigroup has announced a $16.1 million investment to open a new office facility in Charlotte, North Carolina, which will create 510 jobs. The move highlights the city’s growing role as a major financial center and marks a strategic expansion of Citigroup’s presence in the region.
The jobs will come with an average annual salary of $131,832—about 52% higher than the average wage in Mecklenburg County. This will significantly boost the local economy, contributing over $65 million annually in payroll alone.
Charlotte is currently the second-largest banking hub in the United States, behind only New York City. The city is already home to the headquarters of Bank of America and the East Coast base for Wells Fargo. The financial services industry in Charlotte employs more than 91,000 people and has grown 32% since 2016.
Citigroup’s new facility will include roles in personal banking, finance, marketing, and compliance. Around 275 existing employees will be relocated to the new office, bringing the local workforce to 785. The exact location of the facility will be announced later in 2025.
Edward Skyler, Citigroup’s Head of Enterprise Services & Public Affairs, said the decision to invest in Charlotte was driven by the city’s deep talent pool and strategic position in the banking sector.
The project will be supported by nearly $8.9 million in state incentives and grants, provided Citigroup meets its job creation and investment goals. Economists estimate the expansion will add over $2.7 billion to North Carolina’s economy over the next ten years.
This announcement follows a wave of recent financial expansions in Charlotte. AssetMark Financial Holdings also plans to open a regional hub in the city, adding to its reputation as a fast-growing economic powerhouse in the Southeast.
