GM Financial to expand in Arlington, add up to 900 jobs
08/01/2014 3:08 PM
08/01/2014 3:10 PM
General Motors Financial announced Friday that it has purchased a 240,000-square-foot building near its Arlington campus, a move expected to result in the addition of as many as 900 jobs.
The building, located on 22 acres near the intersection of Interstate 20 and Collins Street, will be modified to accommodate the new workers, who will be brought on in the next two or three years. It is located one block east of two buildings where nearly 2,150 employees already work for GM Financial.
“The purchase of this building demonstrates the continued growth and expansion that GM Financial has experienced during the past three years,” said Dan Berce, president and chief executive officer. “We have more than doubled our employee base in North America.”
The company plans to upgrade the exterior facade, parking lot and interior of the building, which was formerly used as a customer service center by a major financial institution.
Although it will start to occupy the building in the next few months, renovations are expected to take another two years to complete. When finished, the company will use the building for operations and as a training and conference center.
GM Financial, formerly AmeriCredit, is a wholly-owned subsidiary of General Motors. Headquartered in downtown Fort Worth on six floors of Burnett Plaza, it employs 6,200 people including 4,600 in North America.
The company has taken on more administrative functions related to GM's 2012 purchase of the international auto lending operations of Ally Financial.
In July, the company said it earned $175 million in the second quarter, about $3 million less than during the same period in 2013. But earnings for the six months ended June 30 were $320 million, up about 13 percent from the first half of 2013.
Consumer loan originations were $3.6 billion in the second quarter, up from $3.4 billion in the first quarter and $2.5 billion from last year.
GM Financial has customer service centers in Arizona, North Carolina and Ontario, Canada, and 17 credit centers in the U.S. and Canada.
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