The Internet payment company, Paypal has affirmed its move to Charlotte, North Carolina. As Paypal confirmed its transfer of operations, the region is forecast to enjoy an economic boom and stability.

According to a post from St. Louis Post Dispatch, the company is projected to hire more than 400 people and aims at giving $3.6 million investment in the new center before the year 2017 ends. The hiring process is also expected to begin in the early fall. Recruitment sector of the company aims to empower its new headquarters at 1000 Louis Rose Place, which is just off Research Drive in the University City area. In addition, Paypal wants to achieve their jobs target by the year 2020.

In a post from Charlotte Observer, it revealed that the average salary of the newly hire would be $51,000 annually. Given the extraordinary imae of the Internet payment facility, the joint venture of the company and the local government will surely boost the struggling financial system of the region. It seems that the company is driven by their goals to strengthen its customer service department, as well as its risk operations, its merchant services, and even its engineering and technology functions.

The company has seen the potential in the region Charlotte can offer the table. Even John McCabe, the senior vice president of global operations at PayPal released a statement of the underlying reason why they have chosen the region. According to him as cited by the same post, "We're here because of the engineering talent, and the labor pool and economic opportunity."