Delaware sets aside millions for Capital One expansion

Del. Gov. Jack Markell today announced millions in funding for Capital One’s Wilmington expansion.

The company plans to bring 500 jobs to the area with the expansion, as the Associated Press reports, after already announcing in June plans to acquire ING Direct for $9 million and in August, a plan to acquire HSBC’s domestic credit card business for $2.6 million.

If approved by a state panel, Capital One will receive $5.6 million from the state as a job creation incentive and $1.5 million to cover 3 percent of the capital expenditures at the Wilmington facility.