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Citi Opens New Financial Services Center in Delaware

Former Governor Jack Markell (2009-2017) | Office of the Governor | Date Posted: Friday, February 10, 2012



WILMINGTON, Del. (Feb. 10, 2012) – Citi Cards today celebrated the grand opening of its new office at the Brandywine Building in Wilmington. The new location, at the center of Wilmington, will include employees from Citi Branded Cards and Citi Retail Services.

The grand opening was attended by Delaware Governor Jack Markell; U.S. Senator Tom Carper; U.S. Senator Chris Coons; Delaware Economic Development Office Director Alan Levin; Wilmington Mayor James Baker; Citi Cards Chief Executive Officer Jud Linville; Citi Cards Chief Operating Officer and Brandywine Site President Ed Garofalo; and Citi Managing Director of Governance and External Affairs, Global Consumer Banking John Carey. In addition, several other state officials and community members, as well as Citi employees from the new Brandywine facility, joined the celebration.

“Citi could have expanded elsewhere, but, it chose Delaware – a credit to our responsive approach, active business community and dedicated workforce,” said Governor Markell. “The new jobs will be filled from a pool of talented, skilled professionals in our financial services industry.”

Currently 145 people work at the Brandywine site, and Citi has a goal of 260 employees at the facility by the end of 2012.

In July 2011, the Delaware Economic Development Office awarded Citi a $3 million grant from the Delaware Strategic Fund to support the expansion, of which $2.5 million will help create new jobs at the site. The fund also contributes to the company’s infrastructure investment, equal to three percent of the total capital expenditures, or a maximum of $500,000.

“The state’s investment in Citi’s expansion will contribute to the growth of our financial services industry,” said Director Levin. “It will create jobs that are critical to our state and for the families that live here.”

Citi currently employs approximately 1,800 employees across New Castle County and has maintained a presence in Delaware since 1982. Between 2007 and 2010, Citi has provided nearly $19.4 million in Community Development loans and nearly $43.4 million in Community Development Investments; and has made grants totaling $2 million to non?profit organizations in Delaware for affordable housing development, foreclosure prevention counseling, financial education, and college access for low?income students.

“We’re pleased to be building upon our Delaware roots, having opened our first facility here 30 years ago,” said Ed Garofalo, Citi Cards COO and Brandywine Site president. “We look forward to strengthening our local presence and partnership by continuing to invest in the community and our people.”

The city of Wilmington awarded Citi $390,000 in low?interest loans that will convert into a grant if the company employs 155 people through 2016. Citi will also receive a 5?year exemption from the city’s head tax, a $15 monthly tax on each employee. Any business that moves into Wilmington with 50 or more jobs is eligible for the head?tax exemption.

“Wilmington, which is our State’s center of commerce, is proud of its partnership with the State in supporting new and expanding businesses,” said Mayor Baker. “When businesses look to Wilmington, they see a welcoming environment that is not just appealing to its investors, but also to its employees. By investing in companies like Citi, Wilmington is insuring its continued growth and prosperity by helping to create new jobs and attract new residents. It is good to have Citi as part of our community.”

Citi employees have a long tradition of embracing the communities where we live and work. In 2011, Citi employees provided more than 9,000 volunteer service hours in Delaware in support of programs such as Meals on Wheels, Habitat for Humanity, Junior Achievement, and the Delaware Money School. Citi employees also provide community leadership by serving on Boards of Directors of local nonprofits, such as the Delaware Community Investment Corporation, First State Community Loan Fund, and the Delaware Financial Literacy Institute, to mention a few.

About the Delaware Economic Development Office
DEDO is an executive state agency responsible for attracting new investors and businesses to the state, promoting the expansion of existing industry, assisting small and minority-owned businesses, promoting and developing tourism and creating new and improved employment opportunities for all citizens of the State. Visit dedo.delaware.gov. Follow us on Twitter.

Contact:
Nikki Lavoie, Delaware Economic Development Office
nikki.lavoie@delaware.gov
302-672-6857

Emily Collins, Citi
Calpine Corp
Emily.Collins@citi.com
718?248?3901

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Citi Opens New Financial Services Center in Delaware

Former Governor Jack Markell (2009-2017) | Office of the Governor | Date Posted: Friday, February 10, 2012



WILMINGTON, Del. (Feb. 10, 2012) – Citi Cards today celebrated the grand opening of its new office at the Brandywine Building in Wilmington. The new location, at the center of Wilmington, will include employees from Citi Branded Cards and Citi Retail Services.

The grand opening was attended by Delaware Governor Jack Markell; U.S. Senator Tom Carper; U.S. Senator Chris Coons; Delaware Economic Development Office Director Alan Levin; Wilmington Mayor James Baker; Citi Cards Chief Executive Officer Jud Linville; Citi Cards Chief Operating Officer and Brandywine Site President Ed Garofalo; and Citi Managing Director of Governance and External Affairs, Global Consumer Banking John Carey. In addition, several other state officials and community members, as well as Citi employees from the new Brandywine facility, joined the celebration.

“Citi could have expanded elsewhere, but, it chose Delaware – a credit to our responsive approach, active business community and dedicated workforce,” said Governor Markell. “The new jobs will be filled from a pool of talented, skilled professionals in our financial services industry.”

Currently 145 people work at the Brandywine site, and Citi has a goal of 260 employees at the facility by the end of 2012.

In July 2011, the Delaware Economic Development Office awarded Citi a $3 million grant from the Delaware Strategic Fund to support the expansion, of which $2.5 million will help create new jobs at the site. The fund also contributes to the company’s infrastructure investment, equal to three percent of the total capital expenditures, or a maximum of $500,000.

“The state’s investment in Citi’s expansion will contribute to the growth of our financial services industry,” said Director Levin. “It will create jobs that are critical to our state and for the families that live here.”

Citi currently employs approximately 1,800 employees across New Castle County and has maintained a presence in Delaware since 1982. Between 2007 and 2010, Citi has provided nearly $19.4 million in Community Development loans and nearly $43.4 million in Community Development Investments; and has made grants totaling $2 million to non?profit organizations in Delaware for affordable housing development, foreclosure prevention counseling, financial education, and college access for low?income students.

“We’re pleased to be building upon our Delaware roots, having opened our first facility here 30 years ago,” said Ed Garofalo, Citi Cards COO and Brandywine Site president. “We look forward to strengthening our local presence and partnership by continuing to invest in the community and our people.”

The city of Wilmington awarded Citi $390,000 in low?interest loans that will convert into a grant if the company employs 155 people through 2016. Citi will also receive a 5?year exemption from the city’s head tax, a $15 monthly tax on each employee. Any business that moves into Wilmington with 50 or more jobs is eligible for the head?tax exemption.

“Wilmington, which is our State’s center of commerce, is proud of its partnership with the State in supporting new and expanding businesses,” said Mayor Baker. “When businesses look to Wilmington, they see a welcoming environment that is not just appealing to its investors, but also to its employees. By investing in companies like Citi, Wilmington is insuring its continued growth and prosperity by helping to create new jobs and attract new residents. It is good to have Citi as part of our community.”

Citi employees have a long tradition of embracing the communities where we live and work. In 2011, Citi employees provided more than 9,000 volunteer service hours in Delaware in support of programs such as Meals on Wheels, Habitat for Humanity, Junior Achievement, and the Delaware Money School. Citi employees also provide community leadership by serving on Boards of Directors of local nonprofits, such as the Delaware Community Investment Corporation, First State Community Loan Fund, and the Delaware Financial Literacy Institute, to mention a few.

About the Delaware Economic Development Office
DEDO is an executive state agency responsible for attracting new investors and businesses to the state, promoting the expansion of existing industry, assisting small and minority-owned businesses, promoting and developing tourism and creating new and improved employment opportunities for all citizens of the State. Visit dedo.delaware.gov. Follow us on Twitter.

Contact:
Nikki Lavoie, Delaware Economic Development Office
nikki.lavoie@delaware.gov
302-672-6857

Emily Collins, Citi
Calpine Corp
Emily.Collins@citi.com
718?248?3901

image_printPrint

Related Topics:  


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.