Today Governor Josh Stein announced that Capital Group, one of the world’s largest and most experienced active asset managers, will establish a major East Coast operations hub in Charlotte.
“We’re excited that Charlotte’s reputation as one of the nation’s top banking centers has attracted Capital Group to establish its East Coast hub here,” said Governor Stein. “North Carolina offers a talent pool that’s especially well suited to helping financial services companies like the Capital Group succeed in our state.”
Capital Group, a privately owned company with headquarters in Los Angeles, has more than 90 years of active investment management experience, with $3.4 trillion in Assets Under Management (AUM) as of January 26, 2026. Founded in 1931, the company is known for its early and continuing stewardship of one of the nation's first mutual funds, the Investment Company of America. The Charlotte project will establish a major operational hub for the company on the East Coast, supporting growth in the U.S. and around the world.
“Charlotte stood out as a natural fit for Capital Group’s next phase of growth,” said Rob Klausner, Chief Operating Officer of Capital Group. “North Carolina’s strong financial services ecosystem, growing talent base, and long-term outlook align closely with our priorities as a firm. This investment strengthens our operating resilience, supports better outcomes for our clients, and reflects our commitment to building careers and community alongside our associates in Charlotte."
“It’s a pleasure to add a leader like Capital Group to North Carolina’s thriving industry cluster of financial firms,” said North Carolina Commerce Secretary Lee Lilley. “Our ranking as CNBC’s Top State for Business is validated once again with today's announcement.”
The new jobs created by the project will bring an anticipated annual payroll impact of more than $116 million to the region.
The project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee earlier today and formally awarded to Capital Group Companies Global, Inc. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $5.2 billion. Using a formula that takes into account the new tax revenues generated by 600 new jobs and a capital investment of $60 million, the JDIG agreement authorizes the potential reimbursement to the company of up to $17,173,500 spread over 12 years. State payments occur only following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
The project's projected return on investment of public dollars is 341 percent, meaning for every dollar of potential cost, the state receives $4.41 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Because Capital Group chose a location in Mecklenburg County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $5,724,500 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Mecklenburg, the new tax revenue generated through JDIG grants helps more economically challenged communities in other locations around the state.
“It takes close collaboration among our local, regional, and state economic development teams to make an announcement like this possible, and I appreciate the hard work put in by those teams," said N.C. Representative Becky Carney. “We welcome the Capital Group to the City of Charlotte, and we appreciate the many ways this company will expand opportunities for people in our region."
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the Commerce Department’s Division of Workforce Solutions, the University of North Carolina at Charlotte, Central Piedmont Community College, Mecklenburg County, the City of Charlotte, Charlotte Center City Partners, and the Charlotte Regional Business Alliance.
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About Capital Group
As Capital Group approaches its 100th anniversary in 2031, its long-term strategy remains firmly rooted in its mission to improve people’s lives through successful investing. With more than 9,000 associates and 33 offices around the world, Capital Group manages $3.4 trillion in assets for millions of wealth management and institutional clients around the world.