West Coast financial services giant Capital Group is expanding to Charlotte with a $600 million investment and pledging to create 600 high-paying jobs.
Capital Group, based in Los Angeles, will establish a “Center of Excellence” on the East Coast in Charlotte, Mark Poole director of commerce finance at the N.C. Department of Commerce said Thursday during a special-called Economic Investment Committee meeting. The five-member body within the Commerce Department votes on economic incentives.
The minimum average salary will be $194,141. Capital Group anticipates investing $60 million by Dec. 31, 2031, with jobs in Charlotte starting next year. That’s more than double Mecklenburg’s average wage of $90,706 as of January, according to state data. The new roles will include positions vital to Capital Groups’s internal operations management customer support, Poole said.
The new jobs include software, data and AI engineering, data science, investment operations, marketing and global business services, Mecklenburg County said in its announcement.
The company expects to locate its facility in uptown Charlotte, according to the county.
Capital Group is well-known for being the investment manager of American Funds. The company bills itself as the world’s largest active fund manager, with over $3.4 trillion in assets under management as of January.
In a statement, Charlotte Mayor Vi Lyles praised Capital Group for choosing the city for its new East Coast hub, calling it “a strong endorsement of our city’s rise as a leading hub for financial technology.”
“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,” Gov. Josh Stein said in a statement.
NC incentives in Capitol Group deal
For its investment, the state awarded Capital Group tax incentives worth over $17.2 million if the company reaches its hiring and investment goals. The incentive package also includes $2.2 million in training through the community college system and division of work for solutions.
Charlotte and Mecklenburg County combined offered $1 million in local incentives.
Besides Charlotte, Capital Group considered Indianapolis, where the company already has about 900 employees.
“The offer of incentives was an essential piece of the decision-making process for Capital Group’s executive committee,” Poole said.
Capital Group chief operating officer Rob Klausner said the expansion reflects its commitment to Charlotte employees. “North Carolina’s strong financial services ecosystem, growing talent base, and long-term outlook align closely with our priorities as a firm,” he said in a statement.
The state does not require median wage projections, which would be more accurate than averages, which can be skewed by higher salaries. N.C. Department of Commerce data online for its 100 counties also is tracked by average wages.
About Capital Group
Capital Group is a privately held company that was founded in 1931. The company has more than 9,000 employees and 33 offices around the world, including in Australia, Tokyo and Hong Kong.
Its president and CEO is Mike Gitlin.
Other expansions in Charlotte with big job numbers
Capital Group joins a growing list of major moves by companies expanding in the Charlotte region, adding hundreds of jobs. Among the latest announcements are:
- Pacific Life, based in Newport Beach, California, will invest $12.3 million to open a Charlotte office and promises to create 301 jobs over the next five years with $176,250 annual average salary. The company will occupy three floors at 68,000 square feet at the Queensbridge Collective, 1111 S. Tryon St. Full occupancy is expected in 2028. Pacific Life offers life insurance, annuity and employee benefits, as well as investment services.
- Global financial giant Citi, based in New York City, opened its Ballantyne office on March 16 with a $16.1 million investment, vowing to add 510 workers by the end of 2027. The three-floor, 90,000-square-foot office for Citigroup Technology, a division of the investment bank and financial services firm Citigroup, is at 11225 North Community House Road in Ballantyne. The average annual salary for new positions is expected to be at least $131,000.
- SoFi Technologies is investing $3 million and creating 225 jobs in Ballantyne at the Everett Building at 11525 N. Community House Road. Employees expect to begin moving into the 21,000-square-foot hub by summer. New positions at SoFi will include loan officers, loan processors, underwriters, chief experience analysts and sales and management teams. The jobs will pay a minimum average wage of $108,400.
- Maersk, a Denmark-based shipping and logistics company, is temporarily putting its plans to bring 520 jobs to Charlotte on hold. In November, Maersk said it would be moving its North American headquarters to Charlotte in a $16 million expansion, creating 520 jobs this year and 2028. But last month, the shipping company said it is delaying those plans, but expects to begin adding jobs between 2027 and 2029.
Several banks also have been expanding in the Charlotte region as well.
The list includes Minnesota-based U.S. Bank, Florida-based BankUnited, California-based City National Bank, Tennessee-based First Horizon Bank, New York-based JPMorgan Chase, Ohio-based banks Huntington National Bank and Fifth Third Bank, Pittsburg-based banks First National Bank and PNC Bank, and Texas-based USAA.
This story was originally published March 26, 2026 at 2:09 PM.
Catherine Muccigrosso covers retail, banking and other business news for The Charlotte Observer. An award-winning journalist, she has worked for multiple newspapers in the Carolinas, Missouri and New York.
Brian Gordon is the Business & Technology reporter for The News & Observer and The Herald-Sun. He writes about jobs, startups and big tech developments unique to the North Carolina Triangle. Brian previously worked as a senior statewide reporter for the USA Today Network. Please contact him via email, phone, or Signal at 919-861-1238.