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Charlotte lands fintech Robinhood Markets facility

Charlotte lands fintech Robinhood Markets facility

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Robinhood Markets Inc., a California-based financial services firm, said Tuesday it will create 389 jobs in Charlotte and spend $11.7 million on capital investments in a customer-serviced focused office.

Robinhood is a mobile-first investing platform known for pioneering commission-free trading with no account minimums. The new positions will include analysts, customer-service staff and operations personnel.

Founded in 2013, Robinhood offers investing in stocks, options, exchange-traded funds and cash-management products through its brokerage, Robinhood Financial, crypto trading through Robinhood Crypto, and a suite of educational resources for first-time investors interested in building long-term, generational wealth.

The average annual salary for all new positions exceeds Mecklenburg County’s overall average annual wage of $71,689, creating a potential payroll impact of more than $29.7 million per year.

The company has been made eligible for up to $3 million in performance-based incentives from the state’s Job Development Investment Grant program.

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@rcraverWSJ

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