LendingTree to expand in Charlotte, bring hundreds of jobs

LendingTree to expand in Charlotte, bring hundreds of jobs
LendingTree Logo. (PRNewsFoto/LendingTree)

CHARLOTTE, N.C. — Gov. Roy Cooper and Mecklenburg County leaders announced the expansion of LendingTree’s headquarters in Charlotte on Thursday.

Officials said the expansion will bring 436 new jobs to the county over the next five years, adding to the company’s current 488 jobs.

[ALSO READ: Fortune 100 company Honeywell bringing HQ, 750 jobs to Charlotte]

Content Continues Below

LendingTree’s new headquarters will have an estimated capital investment of more than $26 million. The location hasn't been announced.

Officials said the average annual salary of the new positions will be $101,140.

A 12-year grant approved by the state’s Economic Investment Committee helped make LendingTree’s expansion a reality. Officials estimate the expansion will help grow the state’s economy by $969 million.

Mecklenburg County is also supporting the expansion with a $686,878 grant. Officials estimate $1.844 million in net revenue over the seven years of the grant.

“We are pleased to be able to support the continued growth of LendingTree,” said George Dunlap, chairman of the Mecklenburg Board of County Commissioners. “The company’s expansion here signifies the strength of the technology industry in Mecklenburg. We are extremely grateful that LendingTree recognizes that Mecklenburg is the right place for them to grow.”

The company’s expansion is expected to bring more than $26 million in investment by the end of 2023.

“For this to happen here is the kind of place this administration wants to continue to foster,” said North Carolina Secretary of Commerce Anthony Copeland.

LendingTree is a free, online loan marketplace that connects customers with multiple lenders to meet their borrowing needs.

The city of Charlotte and the county are supporting the expansion through a business investment program grant of $1.4 million over seven years.

Read more top trending stories on wsoctv.com: