Citizens Mortgage to move to Minden
In six months, Citizens Mortgage Inc. will be moving its world headquarters from Bloomington, Minn., to Minden. The move to the Carson Valley brings with it the potential for 85 new jobs, said company officials.
Jim Gibbs, executive vice president for CMI, said the decision to relocate to Nevada was largely based on quality-of-life and tax issues.
“We looked everywhere for a place to relocate – California, the Dakotas – and the Carson Valley was our choice,” he said.
Citizens Mortgage, Inc. was started nine years ago in Bloomington by founder John Billins. Approximately 15 of the Bloomington employees will be relocating with the company and the rest will be hired from the Northern Nevada area, Gibbs said.
This company, which may employ up to 100 people when fully up and running, has 28 locations in several states including Washington state, Wisconsin, Ohio and one office in Las Vegas.
“I think that it is very, very important for the future of our Valley to have this company here,” said County Commissioner Bernie Curtis.
“Citizens Mortgage is a very clean business. It’s totally, completely financial with no impact on the environment in any way,” Curtis said. “We’re really looking forward to having Citizens Mortgage here. It’s just what we need in the Valley.”
Bloomington is the third largest city in Minnesota, with a population of 88,000. The “All American City” is home to the 4.2-million square-foot Mall of America, reputed to be the largest mall in the United States.
The mortgage lender will be offering all mortgage services – FHA and VA loans as well as first and second mortgages.
“We liked the Reno and Lake Tahoe access and the tax system in Nevada,” he said.
The company has already advertised for employees. Billins and Donna Mueller, operations manager, traveled to the Valley in early April to interview prospective staff members.
“We were really impressed with the people we talked to last week,” Mueller said. “There is so much talent out there.”
Mueller reiterated that tax savings for the company as well as its employees were at the forefront of the decision to relocate.
“Minnesota is a high tax state and the corporate taxes were eating us alive,” she said. “It will be good for our employees, since Nevada has no state income tax and we do here. It will be like a pay raise for them.”
She said scouting visits to the area also convinced company executives to make the move West.
“Once we saw the mountains and Lake Tahoe, how could we say no?”
Mike Hickey Construction in Minden has been contracted to do the building for the company’s new head office, which will be located across from Douglas High School on Highway 88.
Anyone who might be interested in applying for work with the company is encouraged to mail a resume to: Citizens Mortgage, Inc., 1550 E. 79th St., Suite 535, Bloomington, Minn., 55425.
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