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Frederick gives $100K to help Wells Fargo expand

Tuesday - 9/11/2012, 9:49am  ET

FREDERICK, Md. (AP) - Frederick County is giving $100,000 to help Wells Fargo expand in the area, saying the company has many jobs.

The Frederick News-Post reports the county is giving a 10 percent match to a $1 million fund for the company to expand.

The commissioners said in a statement that the county and state became aware of the company's intention to leave the state seven years ago. County officials proposed incentives to help the company expand its local operations. The Maryland Department of Business and Economic Development also offered to provide a conditional loan for the expansion and infrastructure improvements.

Wells Fargo has since retained 1,148 full-time employees and hired 212 new employees.

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Information from: The Frederick (Md.) News-Post, http://www.fredericknewspost.com


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)