Sallie Mae Selects Newark, Delaware for HQ Relocation
07/07/2010
"We appreciate the business spirit of officials at the state and local levels and that Delaware has made clear it will be a great place to grow our business," said Albert L. Lord, CEO of Sallie Mae.
The company currently employs 900 people in Newark, and will begin to occupy a new headquarters in March 2011. The move will have no effect on the existing office.
The Delaware Economic Development Office is recommending a Delaware Strategic Fund Grant of a maximum $3 million on Sallie Mae's projected $100 million investment. It may also qualify for Delaware Division of Revenue's New Economy Tax Credit Program instead of the Strategic Fund, based on the number and level of jobs created.
Sallie Mae has also agreed to subcontract collection services from businesses in Kent County when possible.
Most Read
-
-
2021 Gold & Silver Shovel Awards Project of the Year: CREE Wolfspeed’s Wafers Key to Charging of EVs
Q2 2021
-
Latest Trends in the Industrial Real Estate Sector Here to Stay
Q2 2021
-
A New Approach to Energy Savings for Your Next Manufacturing Plant
Q2 2021
-
Where's the Talent: Jobs Outlook in the Fastest Growing U.S. Cities
Q2 2021
-
2020 Top States for Doing Business Showcase Their Pro-Business Environments
Q3 2020
-
A Turnkey Approach to Manufacturing Location Decisions
Q2 2021