County approves $325,000 incentive for Live Oak Bank; city votes Tuesday

WILMINGTON, NC (WWAY) — New Hanover County Commissioners voted Monday to make a partnership payment of $325,000 over the next five years with Live Oak Bank.

The bank’s expansion in Wilmington is expected to bring more than 100 jobs. The expansion should be done within the next two years.

Commissioner Brian Berger was the only one to vote against the incentive.

Wilmington City Council will vote tomorrow whether to contribute $250,000 to Live Oak over five years.