Fri, 29 Jun 2012

A new home loan centre built by bank The Federal Savings Bank in Chicago will create 400 new jobs.

At least 300 of these jobs will come in the first 24 months, it is promised.

The bank is operated and owned by military veterans and chairman Steve Calk says that the bank will operate a “veterans’ preference” for job openings in Chicago, working with the city’s veterans employment office.

The city of Chicago has awarded the bank a $10k (£6.4k) per employee grant under its TIFWorks programme, and the state Department of Commerce and Economic opportunity has also awarded it an incremental income tax credit for the next 10 years, which could be worth up to $9.5m.