Atlantic Credit & Finance, a subsidiary of Encore Capital Group, is planning on expanding its business in Roanoke, Va.
The company is re-locating 244 employees to a new office building in downtown Roanoke and plans to hire an additional 115 employees. The renovations to the new office will cost as much as $4 million, according to a published report. The new office will be about 50,000 square feet. The company had been operating at its current location for about 15 years.
The hiring of an additional 115 employees will be made during the course of the next three years, the manager of economic development for the city of Roanoke said. The average salary for those jobs will be $43,000, the company said.
Moving the company downtown will help it hire and retain workers, the company announced.
Atlantic Credit was founded in 1996 and purchased by Encore in 2014. The president and CEO of Atlantic Credit graduated high school in the Roanoke area.
The state of Virginia provided a $250,000 grant from its Commonwealth’s Opportunity Fund to the city of Roanoke to help with the project. According to a press release:
Atlantic Credit and Finance is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“We expect to grow our call center capacity in the coming years, and Roanoke has everything we’re looking for in a partner for this expansion,” said Shawn Thomas, Vice President of Operations at Encore Capital, in a statement
