Credit Karma To Expand NC Operations With New Charlotte Tech Hub

CHARLOTTE, NC — Credit Karma is expanding its North Carolina workforce by the creation of a new $13 million tech hub in Charlotte, the company and state officials announced Tuesday.

"We are so excited about this," Cooper said. "This is such a positive economic impact for North Carolina's future, in particularly Charlotte and the surrounding counties."

The new east coast tech hub for the personal financial technology company, which already employs about 200 workers in Charlotte, will create about 600 new jobs averaging at least $156,000 annually, Gov. Roy Cooper said.

The new hub is expected to have a $2.6 billion impact on the state's economy over the next 12 years, Cooper said.

The company conducted an extensive search in a dozen cities before deciding to expand operations in Charlotte, according to its top official.

"We started [in Charlotte] about four years ago with a workforce of about 200 and in that timeframe, we fell in love with the skill set, the people, the community itself," Kenneth Lin, CEO of Credit Karma said. "We couldn't be more excited."

North Carolina, along with the City of Charlotte, offered Credit Karma a combined $22 million in incentives to be paid over the next 12 years, The Charlotte Observer reported.

In March, stock trading app Robinhood announced it was also expanding its operations to Charlotte, a move that is expected to create about 400 over the next five years.

The news of job expansion in Charlotte is welcome at a time the region is working to emerge from the pandemic, Charlotte Mayor Vi Lyles said Tuesday. "It is critical that Charlotte is known as a city where you can find a great job, an affordable home, and a reliable transportation system," she said.

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