VA Mortgage Center.com is expanding its operations in Columbia and expects to create 300 new jobs during the next five years, while tapping an estimated $6 million in state incentives.
Gov. Jay Nixon said while visiting the VA Mortgage Center’s headquarters in south Columbia today that the company’s significant investment to fund the expansion is “exciting news” for the economy of Boone County and is one of several recent signs that the state’s economy is growing.
VA Mortgage Center, which provides home loans for veterans and military personnel, has grown from 136 employees to more than 500 in the past three years, and about 400 of them work at the company’s three locations in the city.
CEO Nate Long said two of the areas of growth are servicing VA home loans that are initiated by outside brokers and supporting the growing network of company offices on military bases around the country.
Long said the company is looking for a building in Columbia to consolidate its offices and accommodate the large number of new employees.
Nixon said VA Mortgage Center is eligible for $5.6 million in tax credits through the Missouri Quality Jobs program, $300,000 in training cost reimbursements and more than $200,000 in employee recruitment funds.