GMAC to Add 200 Positions in N.C.
CHARLOTTE, N.C. — North Carolina Gov. Bev Perdue recently announced that GMAC Financial Services will invest more than $16.4 million to grow its Charlotte operations.
GMAC confirmed this announcement. The expansion is expected to create 200 finance, marketing, IT and related positions over the next two years, which are anticipated to pay an annual average wage of $96,124, not including benefits.
The company has been approved for participation in the North Carolina Jobs Development Investment Grant Program. The multi-year agreement provides up to $4.5 million in economic incentives for GMAC.
Basically, for each year that the company meets required performance targets, the state will provide a grant equal to 60 percent of the N.C. personal income withholding taxes derived from the creation of new jobs.
And should GMAC create the jobs expected under the agreement and sustain them for nine years, the agreement could yield up to $4.5 million in maximum benefits, the governor's office highlighted.
Moreover, the company is also eligible for a Charlotte-Mecklenburg Country Business Investment Program grant awarded by the Charlotte City Council and Mecklenburg Country Commission.
"We are excited about growing our presence in Charlotte," noted Alvaro de Molina, GMAC chief executive officer and long-time resident of Charlotte.
"This is a great city with a deep talent pool," he added.
When a Job Development Investment Grant is allotted to one of the state's more economically prosperous counties, such as Mecklenburg, 25 percent of it will be allocated to the Industrial Development Fund to encourage economic development in less prosperous counties. This could equal up to almost $1.5 million.
"Charlotte has a national reputation as a leading financial center, and the Queen City continues to attract major investments by global companies like GMAC," said Gov. Perdue.
GMAC noted that it also has corporate centers or business operations in several cities throughout the world, including New York and Fort Washington, Pa.