IBM unit to add 600 Charlotte jobs

An IBM Corp. division that processes loan applications for the mortgage industry will create 600 jobs in Charlotte over the next four years and invest $2.4 million to expand its local facility.

According to the office of N.C. Gov. Mike Easley, IBM Lender Business Process Services Inc., which has 68 employees at its Charlotte headquarters, will expand its offices here to accommodate the additional workers.

The employees will be paid an average of $59,000 per year, not including benefits. That exceeds the Mecklenburg County average of $48,724.

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The unit of New York-based IBM (NYSE:IBM) opened its 40,000-square-foot operations center in Charlotte this month. Its services include loan-application processing, underwriting, vendor management, document preparation and loan closings.

The site, in the University area at 8501 IBM Drive, can accommodate up to 250 employees.

"The strong business climate of North Carolina and a talent pool rich in the skills that we require make Charlotte a natural location as we grow our Lender Business Process Services business," says Greg Sullins, executive director of IBM Lender Business Process Services. "As clients continue to turn to IBM to transform their mortgage-origination operating model, we are excited about partnering with Gov. Easley to expand our presence in North Carolina and meet that growing demand."

The state will give IBM a job-development investment grant as part of the deal. If the company creates all of the jobs called for in the agreement and maintains them for a decade, IBM could receive as much as $9.78 million in tax benefits, the governor's office says.

The IBM division was founded in 2007.