Capital One Financial Corp Adds 400 Jobs

SIOUX FALLS, SD - Capital One Financial Corp is going to add 400 new jobs in Sioux Falls next year.

Back in August, Capital One announced it was acquiring HSBC's domestic credit card business and Tuesday, it says it's going to be doubling its work force.  That's good news for the Sioux Falls economy and for those who have been struggling to find a job.

400 people currently work at HSBC. But once Capital One's $2.6 billion acquisition is complete, the company plans to add another 400 positions in Sioux Falls.

"It's wonderful to hear that there's opportunities becoming available," Martha McAfee said. 

McAfee, who moved to Sioux Falls from Arizona, was in the health insurance industry and has been looking for work for more than a month. She says it's been difficult, but she is encouraged by Tuesday's announcement.

"Especially after a certain age, you know I can't go out there and dig a ditch, so I have to use my mind because that still sort of works," McAfee said.

Capital One will begin recruiting soon to fill supervisor, manager and support staff positions, plus others.

The President of the Sioux Falls Development Foundation, Slater Barr, says according to a national survey, right now Sioux Falls has the 10th strongest economy in the country and that has other companies looking to expand or move here.

"For the past several months, there's been a definite upturn, not only in the amount of inquiries, but the seriousness of these inquiries in the community.  We are hopeful that this is just the start," Barr said.

And if that's the case, people like McAfee might not have to stay unemployed for long.

"Well, I'm really interested.  Give me a call," McAfee said.

The South Dakota Governor's office of Economic Development offered Capital One a $200,000 grant to help with the cost of training new workers.