Stonegate Mortgage To Expand To Pinellas County
Operations expansion will create 139 jobs by the end of 2015
PINELLAS COUNTY, Fla. Today, Governor Rick Scott announced that Stonegate Mortgage Corporation, an Indiana-based financial firm focused on the U.S. residential mortgage market, will expand operations and establish a regional headquarters in Pinellas County at Cardinal Point.
Governor Scott said, It is great news that Stonegate Mortgate Corporation will create 139 jobs for families in Pinellas County. We are continuing to build an opportunity economy in Florida and our commitment to lower taxes and fees will help Florida families and businesses succeed and invest in their future. ITS WORKING in Florida.
Stonegate currently has 1000 employees nationally, with 75 staff members in Florida. The company plans to hire an additional 139 employees in Florida by the end of 2016. The projected salaries could result in an economic impact of $10.5 million, and the company plans a capital investment in Pinellas of over $920,000.
Weve grown Stonegate by hiring a dedicated and talented group of people who are committed to providing the best possible service to our customers, said Jim Cutillo, CEO and Founder of Stonegate Mortgage. Pinellas County offers us access to a workforce with the skills we need and the ideal business climate to grow our operations.
Most of the nations leading financial and professional services companies have established large operations in Florida to take advantage of its global connectivity, experienced workforce and favorable business climate. Nearly 90 percent of Floridas gross economic output is generated in the service sector. Floridas 122,000 financial and professional firms employ 850,000 Floridians today.
The impact of the financial and professional services sector in Florida cannot be overstated, said Secretary of Commerce and president & CEO of Enterprise Florida, Gray Swoope. Companies like Stonegate Mortgage are not only growing in our state but expanding and growing here. Its great for our state overall, but especially for professionals in the finance, insurance, and professional fields, which already represent 12 percent of the states employment.
We are excited that Stonegate Mortgage Corporation will expand their company in Pinellas County and create 139 new jobs for Florida families, said Florida Department of Economic Opportunity Executive Director Jesse Panuccio. Stonegate Mortgage Corporation is taking advantage of Floridas strong financial services workforce and we look forward this company growing in our state.
Im very happy to welcome Stonegate Mortgages regional headquarters expansion and these 139 new jobs to Pinellas, said Commissioner Kenneth Welch, Chair of the Pinellas Board of County Commissioners. We have a well-established financial services industry and hard-working citizens ready to apply for these new jobs and eager to support Stonegates regional growth plans.
Stonegate Mortgages selection of Pinellas as the location for its regional headquarters is exciting news. Were honored and ready to assist with their expansion plans in Tampa Bay, said Mike Meidel, Director of Pinellas County Economic Development.
Source: Governor Rick Scott Communications Office