A new high-tech operations facility being built by Regions Bank in Mississippi is expected to create dozens of new jobs mostly in its mortgage business.
Construction of a
75,000-square-foot facility in Hattiesburg will commence during the fourth quarter, the
Birmingham, Alabama-based financial institution said Monday.
The building is expected to be open for business by the first-quarter 2019, and the design of the center will allow for potential future expansion.
Regions said it will make an approximately $23 million capital investment in the property.
Employees who currently work in various business groups throughout several floors of three downtown buildings will
locate at the new space — though most of the people will be associates from Regions Mortgage. The group serves homeowners throughout the Southeast, Texas and the Midwest.
They will be brought “together under one roof in a workspace that’s designed to improve communications and efficiencies across our departments,” Regions Mortgage Servicing Division Manager Morgan McCarty said in the announcement.
Regions reports more than 320 employees currently work in the Hattiesburg area.
In addition, around 90 new jobs are
expected to be created to support operations at the facility. Hirings will commence during the current quarter. Hired employees will initially locate in existing facilities.
“It is no surprise that Regions has chosen the City of Hattiesburg as the location of its new mortgage operations facility,” U.S. Rep. Steven Palazzo (R-Mississippi) was quoted as saying in the statement. “I commend the Area Development Partnership, Regions and the city of Hattiesburg for the hard work they have put forth to ensure this expansion.”
