Credit card company Synchrony Financial said Monday it is moving into bigger office space in Charlotte to accommodate its plans for job growth.
Synchrony, which issues credit cards on behalf of Belk, Lowe’s and other retailers, is relocating its West Tyvola Road operation – about a mile from Charlotte Douglas International Airport – to Ballantyne Corporate Park.
The company employs roughly 400 in Charlotte, spokesman Carlos Campos said. He said it plans to add another 200 jobs in Charlotte by the end of this year. He said the new jobs will be “in a variety of positions” but didn’t elaborate.
In late December, the company told the city it was withdrawing a request for local and state incentives to create 400 jobs in Charlotte, according to people familiar with the city and the company’s relationship.
Synchrony says it is moving into approximately 153,000 square feet of space in Ballantyne Corporate Park. The company plans to hold a ribbon-cutting ceremony for the new space on Tuesday.
The Stamford, Conn.-based company used to be part of General Electric Co.’s lending arm. Last year, Synchrony became its own publicly traded company when it was spun off from General Electric as GE shrinks its finance business.
Synchrony says it has had a presence in Charlotte since 1979. According to the company, it has senior leadership and entry-level employees in Charlotte, where operations include sales, marketing, operations, compliance, risk, finance and information technology.
In seeking incentives, Synchrony had told the city it would create 125 high-paying management jobs and 275 lower-wage call-center positions.
The incentives proposal called for the city and county combined to give the company just under $500,000 over five years. The state would have contributed an additional $250,000.
Campos declined on Monday to discuss the company’s decision to withdraw the incentives request.