RALEIGH – Hundreds of new jobs paying more than $ 64,000 are coming to Cary.
In an agreement announced Tuesday, PennyMac Financial Services said Cary is preferred over sites in three other states for the expansion. It will invest $ 4.3 million as part of the expansion.
“What initially attracted PennyMac to this region was the diversity and talent that the city offers,” Doug Jones, president of PennyMac, said in a statement. “We look forward to establishing a workforce in North Carolina that broadens our national footprint, brings new jobs to the community, and helps us achieve our goal of becoming the best service in the industry.”
The North Carolina Economic Development Committee has agreed to offer nearly $ 2 million in tax incentives if work goals are met.
PennyMac already has an office in the Triangle. It has agreed to retain 42 current posts as part of the incentive grant.
A variety of jobs will be available. (See www.pennymac.com/careers for postal details.)
“This latest expansion will support the mortgage fulfillment functions of the company’s direct loan companies, which include loan processing, underwriting, closing and financing,” the NC Department of Commerce explained. “The company’s new footprint will span 35,000 square feet of production, business technology and IT support.”
The company is based in Westlake Village, California and was launched in 2008.
The company is traded on the NYSE under the symbol PFSI.
“Growing companies like PennyMac Financial want to expand in North Carolina even during a pandemic because of our strong talent pipeline, our stable business climate and our exceptional quality of life,” Governor Roy Cooper said in the announcement.