LendingTree announced Thursday that it’s growing its local footprint with more than 400 high-paying jobs.
The Charlotte-based technology company will add 436 jobs over the next five years that pay an average wage of over $100,000, according to the North Carolina Economic Investment Committee. That body approved $8.37 million in state incentives on Thursday, just before the company’s expected 11:30 a.m. announcement in Charlotte.
LendingTree is also expected to receive $542,818 from Mecklenburg County and $612,560 from the city, according to the deal. All of the new jobs will be adding in a new location in Charlotte.
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As part of LendingTree’s agreement with the state, the company will be required to retain 609 jobs it already has in Charlotte to remain in compliance with its 2016 incentives deal.
It’s the second major jobs announcement for Charlotte in less than a week.
On Friday, manufacturing tech giant and Fortune 100 company Honeywell announced that it will relocate its headquarters from New Jersey to Charlotte.
Honeywell’s move is being made possible in large part by more than $80 million in incentives from the state, county and city combined. Included in that package is the largest-ever incentives gift by the county, and $42.5 million from the state, which was approved Monday.
In exchange for the incentives, Honeywell has said it will employ up to 750 people in jobs paying a median of $85,000 per year. The company is considering locations in either Ballantyne or SouthPark for its corporate offices, the Observer has reported.
Thursday’s announcement also marks the latest taxpayer-funded incentives package that North Carolina has offered to a large company as it competes with other states for business.
According to records released by the state last week, North Carolina was prepared to offer Amazon at least $2.2 billion for its coveted second headquarters.
The Raleigh-Durham area was one of 20 finalists for the project. But last month Amazon chose Washington, D.C., and New York and said it will invest $5 billion and hire up to 50,000 people combined in those areas.
This is a developing story.