LendingTree to add more than 300 jobs in Charlotte HQ expansion

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In Economic Development
Nov 2nd, 2016
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LendingTree will invest $47 million and double the employee base of its Charlotte headquarters over the next five years, Charlotte Chamber and state commerce officials announced on Wednesday.

The online lender’s corporate expansion will create 314 jobs during that time span, according to Wednesday’s announcement. LendingTree (NASDAQ:TREE) currently employs a staff of more than 360 people, split mostly between Charlotte and its California office. Of the total employees, 287 are based in North Carolina.

“North Carolina is the intersection of finance and technology, and LendingTree’s expanded headquarters campus just made that intersection even busier,” N.C. Commerce Sec. John Skvarla said in a prepared statement. “This innovative company provides valuable financial tools for U.S. consumers, and the Charlotte region will continue to be an integral part of their success.”

As part of the announcement, Skvarla said LendingTree is eligible to receive up to $4.9 million in reimbursements from the state’s Job Development Investment Grant. Skvarla also presented a bowl made from a century-old oak tree struck by lightning to Doug Lebda, LendingTree founder and CEO, at Wednesday’s event. The state has recently gifted the bowls to companies announcing major expansions or relocations to North Carolina.

LendingTree’s expansion plans include a new 136,812-square-foot, two-building headquarters campus in Charlotte that will accommodate technology experts and marketing and customer service representatives, along with other personnel. Salaries of the newly-created jobs will vary by position, with an average annual compensation of $81,857.

LendingTree executives declined to comment on where specifically the company will develop its new headquarters, indicating it is under contract for a site in SouthPark. Pre-submittal documents filed recently with the city indicate the company is targeting a renovation of an existing office building at 2100 Rexford Road, as well as new construction of an atrium area and parking deck. LendingTree is currently headquartered in Ballantyne.

“In 1997, when the Internet was in its infancy and LendingTree was barely more than an idea, I considered the cities and states where a company should be based,” Lebda said on Wednesday. “After a lot of consideration, it was very clear to me that Charlotte, N.C., would be our home.

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