CHARLOTTE, N.C. — Residential mortgage company Intercontinental Capital Group will add 500 jobs in Charlotte over the next five years as part of a $5.8 million investment, the company and state and local government leaders disclosed Tuesday.
The agreement includes $8.45 million worth of incentives: $7.7 million from the state in the form of job development grants over 12 years, up to $650,000 from the community college system, and $109,661 in city investment grants over seven years. Mecklenburg County is not providing any incentives.
Intercontinental is a direct mortgage lender based in Melville, New York, located on Long Island, 35 miles from New York City. The local jobs will be added between next year and 2025, according to the agreement.
The Economic Investment Committee approved the incentives on Tuesday in Raleigh. Incentives are only paid by state and local government after a company has met job and investment thresholds.
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