Mortgage lender to add 500 jobs in Charlotte expansion

Mortgage lender to add 500 jobs in Charlotte expansion

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.

“We looked in all different states where we are and some where we do not have offices,” said Daniel Wilson, the company’s chief operating officer. “The talent pool in Charlotte and North Carolina generally had the best alignment of what we’re looking for.”

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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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