Sumitomo Mitsui Banking plans a $50.5 million investment to establish its second U.S. headquarters in Charlotte by 2032.
Financial institutions are aggressively expanding and restructuring operations across North Carolina. Sumitomo Mitsui Banking (SMBC) intends to invest $50.5 million to establish Charlotte as its second U.S. headquarters by 2032, a project expected to create 2,000 jobs. Additionally, Citigroup is investing approximately $16 million in its Ballantyne-area office in Charlotte, aiming to grow its local workforce from 275 to 800 employees over three years.
JPMorgan Chase continues to grow its presence in the state, with plans to add 25 new branch locations to its existing portfolio of more than 50 offices, including an upcoming site in Jacksonville's Onslow County. Meanwhile, Capital Group is committing $60 million to open a new office in uptown Charlotte that will add 600 jobs, while Live Oak Bank has terminated a $1.5 million state incentive agreement after falling short of its 2022 job creation goals despite investing $47 million in its own campus.
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