Governor Josh Stein announced on Mar. 26 that Capital Group, a major global asset manager, will set up a significant East Coast operations hub in Charlotte. The move is expected to create new jobs and increase the region’s annual payroll by more than $116 million.
The announcement highlights North Carolina’s appeal as a center for financial services and the positive economic impact such investments can bring to the state. The new facility is part of Capital Group’s broader strategy to support its growth across the United States and globally.
“We’re excited that Charlotte’s reputation as one of the nation’s top banking centers has attracted Capital Group to establish its East Coast hub here,” said Governor Stein. “North Carolina offers a talent pool that’s especially well suited to helping financial services companies like the Capital Group succeed in our state.”
Rob Klausner, Chief Operating Officer of Capital Group, said, “Charlotte stood out as a natural fit for Capital Group’s next phase of growth. North Carolina’s strong financial services ecosystem, growing talent base, and long-term outlook align closely with our priorities as a firm. This investment strengthens our operating resilience, supports better outcomes for our clients, and reflects our commitment to building careers and community alongside our associates in Charlotte.”
Lee Lilley, Secretary of Commerce for North Carolina, also welcomed the news: “It’s a pleasure to add a leader like Capital Group to North Carolina’s thriving industry cluster of financial firms. Our ranking as CNBC’s Top State for Business is validated once again with today’s announcement.”
The project will be supported by a Job Development Investment Grant (JDIG) approved by the Economic Investment Committee earlier on Mar. 26. Over twelve years, it is estimated this initiative will grow North Carolina’s economy by $5.2 billion through job creation—specifically 600 new positions—and $60 million in capital investment from Capital Group. The JDIG agreement allows potential reimbursement up to $17 million over twelve years if performance targets are met.
Additionally, because Mecklenburg County is classified as Tier 3 under state guidelines, nearly $5.7 million from JDIG funds will go into an account supporting infrastructure upgrades in rural communities elsewhere in North Carolina.
N.C Representative Becky Carney said: “It takes close collaboration among our local, regional, and state economic development teams to make an announcement like this possible… We welcome the Capital Group to the City of Charlotte, and we appreciate the many ways this company will expand opportunities for people in our region.”
Partners involved include several educational institutions such as Central Piedmont Community College and UNC-Charlotte; government agencies; local organizations; and business alliances.
