Charlotte just landed another big name in finance. The Clearing House Payments Company plans to open an office in Uptown Charlotte and create 200 jobs, Gov. Josh Stein announced Oct. 27, according to the N.C. Department of Commerce. The company expects to invest about $11.5 million in the project.

Who is The Clearing House?

Most people have never heard of it, but it moves a lot of money. The company is owned by large banks and runs CHIPS, a system that clears more than $2 trillion in payments a day, along with the RTP network for instant payments, according to Charlotte Stories and the Charlotte Observer.

What kind of jobs, and what do they pay?

The new roles span finance, payments, risk and compliance, legal, client relations and corporate operations. The state says the average salary will be $162,322, compared with an average of $90,706 in Mecklenburg County, for a potential payroll of more than $32.4 million a year. The state's announcement says hiring is planned from 2028 through 2032. Axios Charlotte counted 27 Charlotte job listings on the company's site as of Tuesday.

Why Charlotte?

Charlotte beat Atlanta for the project, with Dallas and Tampa also among the finalists, according to the Observer and The Charlotte Ledger. Quality of life, easy connections to New York and the local finance workforce were cited as reasons.

What about incentives?

The state approved a Job Development Investment Grant worth up to $2,430,000 over 12 years. The money is paid only after the company proves each year that it met its hiring and investment targets. The grant also directs up to $810,000 to the state's Industrial Development Fund Utility Account. The state estimates the project will add $1.3 billion to North Carolina's economy over 12 years. Axios reports local incentives of about $210,000, with $132,904 from the city and $77,500 from Mecklenburg County.

Where will the office be?

The company plans to move into an existing Uptown building, and the lease is still being finalized, according to Axios.

It's the latest in a run of finance and corporate moves to the area. Axios also pointed to SoFi's 225-job hub in Ballantyne, and earlier this month we covered Perimeter Solutions moving its headquarters to Charlotte. For more local news, see our South Charlotte neighborhoods page.

Sources: N.C. Department of Commerce; Charlotte Observer; Axios Charlotte; The Charlotte Ledger; Charlotte Stories