SoFi announces investment bringing over 200 jobs to Charlotte

CHARLOTTE — SoFi Technologies is set to bring more than 200 new jobs to Charlotte as part of a $3 million investment in the area.

The company plans to establish a regional hub in Ballantyne, creating 225 jobs with an average salary of over $108,000, which is significantly higher than the average private-sector salary in Mecklenburg County.

“And they have to do that over a performance period of 12 years. Over 12 years they certify to us in tax filings that they’ve done all this. That way the taxpayer is protected,” N.C. Commerce Secretary Lee Lilley told Channel 9’s Evan Donovan on Tuesday.

In exchange for its investment, SoFi could receive up to $1.9 billion in financial incentives from the state. These incentives are contingent upon the company meeting specific performance benchmarks over a 12-year period.

One local legislator highlighted the projected return on investment of public dollars at 189%, noting that this development is part of a broader trend of financial services jobs increasing in the Charlotte area since the COVID-19 pandemic.

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