HSBC

HSBC Case Study

Tampa Hillsborough EDC really followed through with us. Not only did they help with securing a site, they also assisted with the local media when there was a premature disclosure of our plans.

Situation
HSBC was looking for a facility to accommodate corporate growth and 450-500 positions

• Tampa was competing with Sioux Falls, SD and Newcastle, DE where available workstations existed to accommodate the company’s rapid expansion plans
• In late 2004 and early 2005, Capital One and JP Morgan Chase announced they were eliminating approximately 3,000 local call center jobs; the loss of those jobs made it important for Tampa to have HSBC continue its growth here
• A local newspaper was running a series of negative articles about incentives at the time, in which Household (HSBC former name) was listed as a past QTI recipient
• Project needed to move very quickly

Solution
Tampa Hillsborough EDC staff provided:

• Information on available sites
• Strategy in partnership with the Governor’s Office on Tourism, Trade and Economic Development (OTTED) and Enterprise Florida (EFI) and Hillsborough County for incentives
• Additional incentive negotiations
• Advice and guidance in helping coordinate the company’s Open House dedication and celebration at its new location

Result
HSBC expanded its mortgage services division and solidified its ongoing commitment to the Tampa area by opening its third location in unincorporated Hillsborough County at netp@rk. The new location created 500 customer service, lending and management jobs, paying 115% of average Florida wage. 

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