Atlantic Credit and Finance, a subsidiary of Encore Capital Group, to invest $4 million for expansion
RICHMOND - Governor Terry McAuliffe today announced that Atlantic Credit and Finance, (ACF), a subsidiary of Encore Capital Group, and a leading servicer of unsecured, consumer-distressed assets, will invest $4 million to expand its operations in the City of Roanoke. The company will move to a new, 50,000-square-foot office in downtown Roanoke. Virginia successfully competed against Michigan and Minnesota for the project, which will create 115 new jobs.
“Atlantic Credit and Finance has been a major employer and valuable member of the Roanoke community for more than 20 years, and we are thrilled the company has decided to reinvest and expand in the Commonwealth,” said Governor McAuliffe. “The combination of Virginia's pro-business climate, unparalleled education system, and outstanding talent pool make the Commonwealth an ideal location for corporate headquarters. We are confident Atlantic Credit and Finance will continue to thrive in Roanoke, and thank the company for contributing to our efforts to diversify and build the new Virginia economy.”
Established in 1996 and headquartered in Roanoke, Virginia, ACF is a leading servicer of unsecured, consumer-distressed assets. Acquired by Encore Capital Group in 2014, ACF has remained in Roanoke, and is now expanding, because of the exceptional talent and community amenities of the region.
“Atlantic Credit and Finance’s decision to grow in Roanoke reaffirms the company’s commitment to the Commonwealth, and we are thrilled this top employer found a state-of-the-art space to accommodate its sizeable growth in the city,” said Secretary of Commerce and Trade Todd Haymore. “Competitive expansions are a strong testament to the company’s local workforce, and Atlantic Credit and Finance will continue to benefit from a pipeline of top-notch talent coming out of the region’s acclaimed universities and community college training programs.”
“We expect to grow our call center capacity in the coming years, and Roanoke has everything we're looking for in a partner for this expansion,” said Shawn Thomas, Vice President of Operations for Encore Capital Group. “We've gotten incredible support from the community and its leaders. We're excited to invest in a best-in-class facility to provide our employees with an exceptional work environment and to provide even more meaningful career opportunities for people in the region.”
The Virginia Economic Development Partnership worked with the City of Roanoke and the Roanoke Regional Partnership to secure the project for Virginia. Governor McAuliffe approved a $250,000 grant from the Commonwealth’s Opportunity Fund to assist the City with the project. Atlantic Credit and Finance is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“We are pleased Atlantic Credit and Finance has chosen to expand its operations in the Star City,” said City of Roanoke Mayor Sherman P. Lea, Sr. “The company has been a great corporate citizen in Roanoke for many years and we welcome them to its new downtown corporate offices. The jobs created by this expansion will certainly have a positive impact on our economic development and add to the vibrancy of Roanoke.”
“The Economic Development Authority is delighted to partner with Atlantic Credit and Finance on this expansion project,” added Damon Williams, Chair of the City of Roanoke Economic Development Authority (EDA). “One of the EDA’s core missions is the fostering of economic growth. This expansion project will bring hundreds of jobs into downtown and will have a substantial economic impact on Roanoke’s already thriving downtown core.”
“Atlantic Credit and Finance has served our community for over 20 years,” said Delegate Sam Rasoul. “Its recent investment of $4 million shows continual support to our Southwestern Virginia workforce. This expansion will provide our region with 115 new jobs and we are thrilled to have such a company investing in the future of Roanoke.”