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Area Development - Site Selection, Facility Planning and Workforce Development

Capital One to Add 500 Employees to Its Delaware Workforce Already Expanding Through Acquisitions

09/26/2011
Capital One Financial Corp. will soon add 500 new jobs to its Delaware workforce, state officials there have announced. The positions will be in addition to those the company will retain from recently announced acquisitions of ING Direct USA and HSBC's domestic credit-card business (both employ Delawareans).

Bank officials cited the state's responsiveness, the quality of its workforce, its public officials' active involvement in recruiting them and Delaware's commitment to their industry as some of the factors that contributed to their decision to choose Delaware for expansion.

"We're incredibly excited about coming to Delaware," said Capital One CEO Richard Fairbank. "We expect to bring hundreds of new, high-quality jobs to the state and to become an active and engaged part of the Delaware business community." Capital One NA has nearly 1,000 branch locations; most are in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia.

"I was very pleased to learn that not only would all of ING's positions in Delaware be retained through the merger, but that an additional 500 good quality, well-paying jobs would be added to our workforce," said Cong. John Carney. "The announcement of these new jobs coming to Delaware is testament to the strong partnerships that ING, Capital One and all levels of government in the state have been able to maintain."

The state will give Capital One a $5.6 million Delaware Strategic Fund Job Creation incentive and a Capital Improvements and Equipment Cash incentive equal to three percent of the total capital expenditures the bank makes for its new Wilmington facility (up to a maximum rebate of $1.5 million). Receipt of all the monies is contingent on job creation goals being met (the 500 new jobs must be in place by December 2013), and approval by the Delaware Council on Development Finance.

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