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ServiceMac plans 1,000-job IL operation

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By Mark Manicone

ServiceMac, a new mortgage-servicing company, is setting up its headquarters in Indian Land and plans to hire 1,000 employees there over the next five years.
The company is moving into Bailes Ridge Corporate Park off S.C. 160, according to Wednesday’s announcement from the company and the S.C. Commerce Department. The privately held firm plans to invest $24 million in a 100,000-square-foot office facility there, to be completed in 24 to 36 months.
“ServiceMac looks forward to establishing our operations in Lancaster County and being able to recruit locally from a strong talent pool,” said ServiceMac CEO Bob Caruso. “We appreciate the efforts of both local and state economic development partners in helping us make the decision to locate in South Carolina possible.”  
Hiring for the new positions is scheduled to begin in the first quarter of 2019, Caruso said. About 450 employees should be working there by January 2021.
A preliminary report included in November’s county council meeting agenda said hourly wages of the new jobs would be more than the county average of $20.47 an hour, including more than 900 jobs paying at least $26.25 an hour.
ServiceMac joins a flood of companies that have set up shop in Indian Land over the past few years, contributing to the Panhandle’s explosive population growth.
The company will be the second big mortgage-industry firm to locate in Bailes Ridge. Movement Mortgage is in the middle of an $18 million expansion at the same corporate park, with 700 new jobs and a 91,000-square-foot building.
County council Chairman Steve Harper heralded the ServiceMac announcement.
“Lancaster County has become a premier destination for corporate headquarters facilities, and ServiceMac’s decision continues the trend,” Harper said. “We couldn’t be happier that Lancaster County will be the base of their operations and the many well-paying jobs which they will bring. The company’s confidence in our business climate and workforce is very much appreciated.”
Jamie Gilbert, Lancaster County economic development director, has worked on the project, which was secret until Wednesday, for many months.
“It’s another golden day for Lancaster County,” Gilbert said. “Lancaster County has earned a reputation for being the location of choice in the Charlotte region for newer companies seeking the right environment to successfully execute aggressive business strategies.”
ServiceMac’s move has been in the county’s planning process for since February – dubbed Project Mustang. In November county council approved tax incentives associated with the project.
The Coordinating Council for Economic Development and Lancaster County Council approved job development tax credits related to the project in November. A $100,000 state grant was also awarded to Lancaster County to assist with costs associated with the project.
As a mortgage-subservicing company, ServiceMac handles the processing of monthly mortgage payments – things like apportioning a payment between interest and principal, and setting aside the escrow portion, which goes to property taxes and homeowners insurance. 
Caruso, the company’s founder, is a mortgage industry veteran with over 20 years’ experience in the field. He has worked at ServiceLink, Wells Fargo Home Mortgage, Bank of America and SVP servicing – a part of JP Morgan Chase Mortgage Co.
Interested applicants for the ServiceMac jobs should visit the company’s website, www.servicemacusa.com, for more information.

Follow reporter Mark Manicone on Twitter @mark_manicone or contact him at (803) 283-1152.