Capital One unveils plans for a big hiring effort in Delaware as the company takes over ING Direct USA.
Capital One has been on a buying spree this year, announcing its plan to acquire ING Direct USA for $9 billion in June, followed by an August announcement that the company was acquiring HSBC’s domestic credit card business, a $2.6 billion deal. Now, the company will expand its employment base in the First State with the addition of 500 jobs.
Capital One will get millions from the Delaware Economic Development Office (DEDO) to create the jobs and for capital expenditures on their new Wilmington facility. “We’re incredibly excited about coming to Delaware. 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,” said Capital One Chairman and CEO Richard Fairbank. “Working with ING Direct’s people, we are confident we can help them build on that success and continue to grow the franchise and expand our Delaware operations.”
The company will get $5.6 million to create the new jobs and $1.5 million for its facility. DEDO Director Alan Levin says, “With the state’s investment, we will secure the company’s commitment to our state, resulting in hundreds of jobs for Delawareans.”
As part of the state’s deal with Capital One, those 500 new jobs must be in place by December 2013. Those 500 jobs would be in addition to ING and HSBC workers who would become employees of Capital One after the merger.