PayPal, the online payment service company, plans to establish a global operations center in Charlotte where it will employ 400 people by 2020.
The Economic Investment Committee of the N.C. Department of Commerce unanimously approved $3.7 million in state incentives for the San José, Calif.-based technology company on Friday.
Details will be announced at the Charlotte Chamber of Commerce at 3 p.m.
At its planned Charlotte facility, PayPal will house customer service, risk operations, merchant services, and engineering and technology functions. The average salary of the new jobs will by $50,929 a year.
In addition, PayPal plans $3.6 million in investments at the planned site by Dec. 31, 2017, according to details discussed by the EIC at its 5-minute meeting.
The Silicon Valley company also considered expanding in Arizona and Florida before picking North Carolina.
The state incentives will also include $480,000 in community college training as well as contributions from Charlotte and Mecklenburg County.