Capital One will expand its Delaware workforce by 500 jobs with help from the state.
Gov. Jack Markell announced Monday that Capital One will receive a $5.6 million job creation incentive and a rebate of up to $1.5 million to cover 3 percent of the capital expenditures on a new Wilmington facility.
Capital One, based in McLean, Va., announced plans to acquire Delaware-headquartered ING Direct USA for $9 billion in June. Last month the company said it would acquire HSBC's domestic credit card business, which also employs state residents, in a transaction valued at approximately $2.6 billion.
The incentives still must be approved by a state panel. Under the agreement, the company must add 500 new jobs by December 2013.
Copyright AP - Associated Press
