Financial services giant Citi is set to establish a new office in Charlotte, North Carolina, set to create 510 jobs in the process.
Citigroup, a global financial services company, is set to bolster its presence in Charlotte, North Carolina, with a significant investment of $16.1 million. This move will lead to the creation of 510 new jobs, bringing the total workforce at the new facility to 785 employees, including existing staff who will relocate to the new office [1][3][5].
The new office will cater to various sectors, including finance, risk management, client credit management, U.S. personal banking, compliance risk, private bank wealth management, and human resources support [1][2][3]. The average annual salary for these positions is estimated to be approximately $131,832, which is above the regional average of $86,830 [1][2][3].
The state of North Carolina has shown its support for this expansion by awarding Citigroup a job development investment grant worth up to $8.9 million, contingent on meeting hiring and investment goals [2][3]. Additionally, there is an approved $2 million allocation for job training connected to this project, along with local tax incentives totaling about $375,000 from the City of Charlotte and Mecklenburg County [2]. Furthermore, $2.98 million will be allocated for the state’s Industrial Development Fund Utility Account to support related infrastructure improvements [3].
Edward Skyler, Citi’s Head of Enterprise Services & Public Affairs, expressed appreciation for the support from Governor Stein and other public officials, stating that Charlotte offers a unique opportunity to invest and tap into the local talent pool while improving the working environment for existing employees [1][2][3]. The location for the new office will be finalised later in 2025 [3].
This expansion underscores Citigroup’s strategic decision to formalize and grow its Charlotte presence, highlighting the city’s status as a major financial center. The move is part of a broader growth of financial services in Charlotte, reinforcing the region's prominence as a financial hub [3].
| Aspect | Details | |-----------------------|--------------------------------------------------------| | **Investment** | $16.1 million | | **New jobs** | 510 new jobs; total 785 employees at the facility | | **Job roles** | Finance, risk management, client credit, personal banking, compliance, wealth management, HR support | | **Average salary** | Approx. $131,832 annually | | **Incentives** | Up to $8.9 million in job development grants, $2 million for job training, $375,000 local tax incentives, $2.98 million state infrastructure allocation | | **Facility timeline** | Announced July 2025; facility location to be determined later in the year |
[1] Citigroup Press Release, July 2025 [2] North Carolina Economic Development, July 2025 [3] Charlotte Business Journal, July 2025 [4] U.S. Census Bureau, December 2024 (for Citi's global employee count)
The new facility by Citigroup, situated in Charlotte, North Carolina, will cater to various business sectors, such as finance, risk management, and banking-and-insurance, among others. These positions, with an average salary above the regional average, are estimated to total 785 employees, including existing staff relocating to the new office.
In its endeavor to expand in Charlotte, Citigroup has been granted various incentives, including a job development investment grant and funds for infrastructure improvements, in recognition of the city's status as a major financial center and the potential growth of the banking-and-insurance industry.
