RALEIGH – Hundreds of new jobs that pay more than $ 64,000 are coming to Cary.
In an agreement announced on Tuesday, PennyMac Financial Services said it chose Cary over locations in three other states for the expansion. It will invest US $ 4.3 million as part of the expansion.
“What initially attracted PennyMac to this region was the diversity and talent that the city has to offer,” said Doug Jones, president of PennyMac, in a statement. “We are looking forward to establishing a workforce in North Carolina that will expand our national presence, bring new jobs to the community and help us achieve our goal of becoming the best in the industry in customer service.”
The North Carolina Economic Development Committee has agreed to provide nearly $ 2 million in tax breaks if job targets are met.
PennyMac already has an office in the Triangle. She agreed to retain 42 current jobs as part of the incentive grant.
A variety of jobs will be available. (Visit www.pennymac.com/careers for job details.)
“This latest expansion will support the mortgage compliance functions of the company’s direct lending operations, which include loan processing, underwriting, closing and financing,” explained the NC Department of Commerce. “The company’s new footprint will cover 35,000 square feet of production, business technology and IT support.”
The company is headquartered in Westlake Village, California. It was launched in 2008.
The company is commercially 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 flow, stable business climate and our exceptional quality of life,” said Governor Roy Cooper in the announcement.