Governor Terry McAuliffe announced that Movement Mortgage, one of the nation’s fastest-growing, privately held mortgage companies, will invest $2 million to relocate its operations center from the City of Virginia Beach to the City of Norfolk. Virginia successfully competed against Arizona, North Carolina and South Carolina for the project, which will retain 550 jobs and create 200 new jobs.
Speaking about today’s announcement, Governor McAuliffe said, “Movement Mortgage is an outstanding Virginia company, and we are thrilled that the City of Norfolk offers a facility that can accommodate the company’s rapid growth. This company’s continued success is a testament to the region’s business climate that will help us attract new companies to locate and hire in Hampton Roads. I am thrilled to announce yet another important step forward in our efforts to diversify and build a new Virginia economy.”
“Movement Mortgage has been an outstanding corporate citizen in Virginia for eight years,” said Secretary of Commerce and Trade Maurice Jones. “I am delighted we are going to keep the company in Virginia and look forward to their continued growth in the Commonwealth.”
Founded in Virginia Beach in 2008, Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Movement is known for its high standard of service and innovative loan processing model, which begins with upfront, six-hour underwriting and aims to finish the loan process in seven business days. The company employs over 3,000 and has more than 500 branches in the U.S. Movement has operations centers in Virginia Beach, Richmond, Charlotte, North Carolina and Phoenix, Arizona. Its non-profit organization, The Movement Foundation, has reinvested more than $16.5 million in community centers, schools and other outreach programs to date. For more information, visit www.movement.com.
“First and foremost, all thanks and glory to God for blessing us with this opportunity to continue growing here in Virginia,” Movement Mortgage Co-founder and Chief Executive Casey Crawford said. “We are excited to make a long-term investment by adding jobs and partnering with the Commonwealth of Virginia and the City of Norfolk. Our company began here, and we are continuing to expand with the talented and dedicated people we are able to recruit and hire in this region.
“I truly believe this investment is going to spark a massive wave of positive momentum for this community by establishing a dynamic, thriving hub of business activity at Military Circle,” added Movement Co-founder and Executive Vice President Toby Harris. “We’re looking ahead with great anticipation to serving borrowers, real estate agents, team members and communities from our new operations center in Norfolk.”
The Virginia Economic Development Partnership worked with the City of Norfolk to secure the project for Virginia. Governor McAuliffe approved a $600,000 grant from the Commonwealth’s Opportunity Fund to assist Norfolk with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“We are pleased and excited to welcome Movement Mortgage to Norfolk,” said Mayor Paul D. Fraim. “Movement Mortgage is one of the nation’s fastest growing mortgage companies, and will bring new energy to the Military Highway corridor, setting the tone for the future redevelopment of Military Circle.”
“This announcement is great news for Norfolk and the Hampton Roads region,” said Senator Kenneth Alexander. “The investment by Movement Mortgage and the 200 additional jobs being created is proof that we are moving in the right direction to grow a new Virginia economy.
Since the beginning of the McAuliffe administration, 625 economic development deals have been closed in Virginia with more than $10.56 billion in capital investment, which is more than any previous governor in the first 25 months in office.