By Nathan Ryder - bio | email | Twitter
Posted by Natalie Yarbor - email
OWENSBORO, KY (WFIE) - U.S. Bank Home Mortgage is already a huge employer in Owensboro with 850 people on the payroll and 100 temporary workers helping them through this busy time.
City officials said the 300 new jobs in the works will make U.S. Bank Owensboro's largest private employer.
Owensboro city leaders were ecstatic over news that one of their biggest employers is ready to move ahead with a big expansion.
President and CEO of the Greater Owensboro Economic Development Corp. Nick Brake said, "This expansion adding 300 jobs over the next 3 to 5 years will make them the largest private employer here in the region and their expanded presence I think is going to be a significant element of our economy."
Brake said Friday's announcement is a bright spot for Owensboro area residents looking for jobs.
He said a new report released just yesterday shows Owensboro's unemployment rate at 8.7%, under Kentucky's state average but about even nationally.
"Our spike in unemployment has really mirrored that of the nation, but certainly there are a lot of people without work, and there's gonna be opportunities for them to find meaningful employment through U.S. Bank," said Brake.
Construction for U.S. Bank's new 50,000 square foot building has already started just off Highway 54 at the 60 bypass.
They plan to open the building this fall.
U.S. Bank officials said all of this is possible thanks to smart business moves they made in the mortgage market, shying away from the sub prime madness that has sunk so many of their competitors.
Dan Prather, Senior V.P. of U.S. Bank Home Mortgage said, "We're very busy right now. Interest rates are very low and then there is the mortgage stimulus plan which is keeping us pretty busy."
Prather said the strong work ethic of the local employees made Owensboro a natural place for them to expand.
"As we merged into U.S. Bank, frankly they looked at this facility, the quality of the people, the knowledge and it just continues to be a stronger center for U.S. Bank as a whole," said Prather.
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