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Incentives Help Bring 900 New Jobs to Guilford County
The Herald Sun
March 2, 2004
Citigroup will add 900 jobs and invest up to $35
million to expand its credit card operations in Guilford County ,
according to state and company officials.
Citi Cards, North America 's largest provider of credit cards, already employs 700 people in the area. The expansion was announced Monday after
a state panel approved incentives worth up to $5.2 million over 10 years. County officials have approved a separate deal for $1.2 million
"We're excited to be expanding our presence in Guilford County ," Citi Cards spokesman Steve Silverman said Monday night in confirming the deal
after an announcement by Gov. Mike Easley.
Silverman credited state and local economic development officials for making the deal work.
Citi Cards will begin hiring later this year for jobs with an average salary of $31,400, Easley said in a news release.
"Citi Cards' decision to expand in Guilford County is a tremendous win for North Carolina ," the governor said.
The company's decision also means much for a region that has struggled with job cuts in furniture, textile and tobacco industries in recent
years.
"The morale boost alone is going to be tremendous," Greensboro Mayor Keith Holliday said. "After so many years of losses and announced
losses, to me it will do as much emotionally and mentally for us as it
will for the actual pocketbooks of our citizens."
County officials remained uncertain Monday where the company would put its expanded operations.
Greensboro and High Point have offered $1.175 million and $624,750, respectively, in incentive payments if the company moves within their
corporate limits.
"Even if the final site is not in High Point , this is a great day for Guilford County ," said Loren Hill, president of the High Point Economic
Development Corp. "Make no mistake, we want the new facility in High
Point, but we are pleased that joint efforts with our counterparts in Guilford County have helped land the project in our region."
Citi Cards has announced plans to lay off about 40 percent of the 8,300
workers at six call centers across the country, including a New Orleans
location where 847 employees were laid off earlier this year.
As early as January, the company identified Guilford County as a possible expansion location.
Local officials worried the company would pull out if it decided against expansion in the region.
Company officials said earlier this month that incentive offers would play an important part in their decision.
Citi Cards has more than 100 million credit card customer accounts.
The Commerce Department estimates the project will generate $12.5 million in state revenues. The grant agreement also will provide $1.7
million for infrastructure improvements in rural North Carolina.
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