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Hillsborough commissioners approve incentives to bring Citigroup's 1,163 jobs

Published Feb. 18, 2015

TAMPA — Hillsborough County commissioners Wednesday unanimously approved a package of $3.4 million in incentives to convince Citigroup to bring up to 1,163 high-paying jobs to the county.

Citigroup would be obligated to fill the first 200 jobs by the end of this year, and 618 more by the end of 2016. The final year, 2017, would require the last 345 jobs.

The deal also calls for Citigroup to maintain a base of 5,173 existing jobs, and for the new jobs to remain, averaging $75,000, over at least six years. Citigroup also is asking for state incentives.

The boost in Citigroup jobs — in number and average pay — is big even amid Hillsborough's recent robust run of job recruiting coups. The last financial deal of this magnitude was the agreement with financial services firm USAA, announced in late 2013, to add up to 1,215 jobs by 2019 and build a 420,000-square-foot facility in Brandon to accommodate its expansion. Those jobs, in contrast to those planned by Citigroup, pay an average of $47,581.

"This is really a huge home run for us," said Commission Sandy Murman.

The deal is also dependent on additional state incentives. Citigroup is considering bringing the jobs to several states.