Gov. Rick Scott announced Feb. 20 that Stonegate Mortgage Corporation, an Indiana-based financial firm focused on the U.S. residential mortgage market, is expanding operations and establishing a regional headquarters in Pinellas County at Cardinal Point in St. Petersburg.
“It is great news that Stonegate Mortgage Corporation will create 139 jobs for families in Pinellas County,” Scott said in a press release.
Stonegate currently has 1,000 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 more than $920,000.
“We’ve 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 nation’s 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 Florida’s gross economic output is generated in the service sector. Florida’s 122,000 financial and professional firms currently employ 850,000 Floridians.
“I’m very happy to welcome Stonegate Mortgage’s regional headquarters expansion and these 139 new jobs to Pinellas,” said Pinellas County Commissioner Kenneth Welch. “We have a well-established financial services industry and hard-working citizens ready to apply for these new jobs and eager to support Stonegate’s regional growth plans.”
“Stonegate Mortgage’s selection of Pinellas as the location for its regional headquarters is exciting news. We’re honored and ready to assist with their expansion plans in Tampa Bay,” said Mike Meidel, director of Pinellas County Economic Development.