LendingTree Expands NC Campus

The consumer finance information technology company will invest nearly $47 million in Charlotte’s South Park community.

by Laura Calugar

Charlotte, N.C.LendingTree LLC has announced plans for a major expansion at its headquarters in Mecklenburg County, N.C. The company intends to create 314 jobs over five years to double its Charlotte workforce. The company will boost the community with an approximately $47 million investment.

LendingTree's headquarters in Charlotte, N.C.
LendingTree’s headquarters in Charlotte, N.C.

Currently, the firm has more than 360 employees, split primarily between its North Carolina headquarters at 11115 Rushmore Drive in Charlotte and its office in California. Based in North Carolina since 1998, LendingTree now needs to add technology experts, marketing and customer service representatives, among other personnel. Salaries will vary by position, but the average annual compensation will be $81,857, which is above Mecklenburg County’s overall average wage of $61,275 per year.

The company is eligible to receive up to $4.9 million in total reimbursements, as an incentive approved by the state’s Economic Investment Committee. Payments will occur in annual installments over 12 years, pending verification by the North Carolina departments of commerce and revenue that the company has met incremental job creation and investment targets.

“LendingTree, a company who twenty years ago pioneered online financial technology, continues to bring innovative solutions to the lending process for both consumers and lenders. Our growth trajectory further emphasizes our ever-expanding need for top technology, design and analytics talent. And after a very thorough process, we are absolutely certain that Charlotte and the state of North Carolina remain the indisputable location to expand our footprint and advance our leadership position within the FinTech industry,” said Doug Lebda, founder and CEO at LendingTree, in a prepared statement.

Partnering with North Carolina Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, Mecklenburg County, the City of Charlotte and the Charlotte Chamber of Commerce.

LendingTree LLC is a unit of publicly held LendingTree Inc., an online loan marketplace. According to North Carolina commerce department data, the company reported $254 million in revenue for 2015.

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