"Northern Kentucky has provided the ideal environment for Citibank's business to grow and prosper," said Kevin Kessinger, Citibank director of operations and technology.
The other three are in Jacksonville, Fla.; Las Vegas; and Wilmington, Del. Northern Kentucky's labor and infrastructure strengths were major factors swaying Citibank's decision, Kessinger
explained. "The region's dedicated and well-educated work force, affordable housing and competitive cost of living have afforded Citibank
a talented and committed team of employees," he
also cited "an accommodating business and political climate" as another positive in picking the Bluegrass State site. Part of that welcoming climate included a $26.7 million incentive package.The incentives will come in tax credits granted over a 10-year period under the Kentucky Jobs Development Act.The Kentucky Economic Development Finance Authority (www.thinkkentucky.com/kyedc/kybizince.html) in late March gave preliminary approval for the $26.7 million package, which includes credits on corporate income taxes, state income taxes and local payroll taxes. The existing Northern Kentucky credit-card center provides collection, credit-risk detection and customer service for Citibank's
U.S. cardholders.The 2,000 new employees, Kessinger
explained, will expand those functions to respond to steady increases in Citigroup's credit-card holders, who now number more than 100,000. "From our business perspective, the addition of this new building will help us remain in front of the curve and ensure that we have the facilities and people in place to provide the highest quality service to our card members," he
Project Continues Area's Hot Spell