Norfolk, Va. – Governor Terry McAuliffe announced Friday that a mortgage company is relocating to Norfolk and hiring 200 new employees.
Movement Mortgage will invest $2 million to relocate its operations center from Virginia Beach to the former JCPenney store at Military Circle Mall in Norfolk.
Virginia competed against Arizona, North Carolina and South Carolina for the project, which will retain 550 jobs and create 200 new jobs in Norfolk.
“We are pleased and excited to welcome Movement Mortgage to Norfolk,” said Mayor Paul D. Fraim. “Movement Mortgage is one of the nation’s fastest growing mortgage companies, and will bring new energy to the Military Highway corridor, setting the tone for the future redevelopment of Military Circle.”
The Virginia Economic Development Partnership worked with the City of Norfolk to secure the project and Governor McAuliffe approved a $600,000 grant from the Commonwealth’s Opportunity Fund to assist. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
The City of Norfolk owns the property and will lease it to Movement Mortgage.