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Mortgage company picks site in Tampa

Countrywide Financial will build a complex near the airport, with almost 1,000 jobs paying an average salary higher than the state's norm.

By HELEN HUNTLEY
Published October 7, 2005

Choosing Florida over sites in Texas and Oklahoma, Countrywide Financial Corp. said Thursday it will create nearly 1,000 jobs and spend $20-million to $25-million opening a mortgage processing and information technology center north of Tampa International Airport.

The company's primary subsidiary, Countrywide Home Loans, bought two unfinished buildings in the Tampa West Industrial Park off W Waters Avenue in unincorporated Hillsborough County. It expects to occupy them in the first quarter of 2006.

Florida Gov. Jeb Bush praised the announcement as a victory for state and local economic development officials. Tax incentives worth up to $2.8-million helped seal the deal.

"Some of the nation's top, high-wage financial services firms now call Florida home, adding to the diversity and ever-growing strength of our business community," Bush said in a statement.

Countrywide Financial, which has its headquarters in Calabasas, Calif., is a Fortune 500 company with 50,000 employees in more than 800 offices nationwide. Last year it had $2.2-billion in net income on $8.6-billion in revenue, with mortgage banking accounting for about two-thirds of the company's operating profits. The company also has banking and insurance operations.

"In Florida, we have found a dynamic and friendly business climate, booming financial services industry, skilled work force and a prime location that meets our needs," said Angelo Mozilo, chief executive of Countrywide Financial.

The proximity to the airport was an important selling point, said Patrick Benton, the company's managing director of corporate real estate administration. He said that will allow for convenient handling of documents flown in from Countrywide offices around the country.

To get the full $2.8-million in tax incentives through the Qualified Target Industry tax refund program, Countrywide must create 920 jobs that pay at least 115 percent of the state's average wage, or at least $37,800. The state will pay 80 percent of the cost and the county 20 percent.

"For us as a community, it's a very nice blend of jobs from the financial services industry," said Gene Gray, Hillsborough County economic development director. He said attracting more jobs from the sector is "part of our strategy to diversify the state and local economy. These are high-quality jobs that pay well and it's a high-quality employer. We're thrilled to have Countywide in our community."

Countrywide paid $15.9-million to buy the unfinished buildings, which are on 15.2 acres at 4901 and 4951 Savarese Circle. An additional $4-million to $9-million will be spent building out and equipping the buildings with office and storage space, an employee cafeteria and fitness center.

Countrywide's only presence in the Tampa Bay area is through branch offices. It employs more than 2,500 people throughout the state at more than 100 mortgage and bank branches, a regional wholesale mortgage processing center in Jacksonville and a securities sales office in Fort Lauderdale.

Information about employment opportunities at the new facility is not yet available.

Helen Huntley can be reached at huntley@sptimes.com or 727 893-8230.

[Last modified October 7, 2005, 01:49:15]