Capital Group employs more than 9,000 people worldwide and is known for its stewardship of the Investment Company of America, one of the nation’s first mutual funds.
CHARLOTTE, N.C. — Capital Group, one of the world’s largest investment firms, will establish a major East Coast operations hub in Charlotte, Gov. Josh Stein announced Thursday, a move expected to inject more than $116 million in annual payroll into the regional economy.
The Los Angeles-based company, which manages $3.4 trillion in assets globally, will create 600 new jobs and invest $60 million in capital as part of the expansion, further cementing Charlotte’s standing as a major U.S. financial hub.
“Charlotte’s reputation as one of the nation’s top banking centers has attracted Capital Group to establish its East Coast hub here,” Stein said. “North Carolina offers a talent pool that’s especially well suited to helping financial services companies like Capital Group succeed in our state.”
The new hub will support Capital Group’s U.S. and international growth operations.
“Charlotte stood out as a natural fit for Capital Group’s next phase of growth,” Rob Klausner, the company’s chief operating officer, said. “North Carolina’s strong financial services ecosystem, growing talent base, and long-term outlook align closely with our priorities as a firm.”
To help facilitate the project, North Carolina approved a Job Development Investment Grant, or JDIG, for Capital Group Companies Global, Inc. The 12-year grant authorizes up to $17.17 million in potential reimbursements to the company, contingent on meeting job creation and investment benchmarks verified by the state.
State officials project the deal will generate $5.2 billion in economic growth over the life of the grant. For every public dollar spent, the state expects to receive $4.41 in tax revenue, marking a projected return of 341%.
Because the project is located in Mecklenburg County, the agreement also directs $5.72 million into the state’s Industrial Development Fund Utility Account, which finances infrastructure improvements in rural communities across North Carolina.
Founded in 1931, Capital Group employs more than 9,000 people across 33 offices worldwide and is known for stewardship of the Investment Company of America, one of the nation’s first mutual funds. The company, which is privately owned, is approaching its centennial in 2031.
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