$100 Million Wells Fargo Expansion Could Add Up to 1,800 New Jobs

Shovels in the ground around the West Des Moines Wells Fargo & Co. campus Friday suggest the giant lender has confidence that the battered U.S. housing market is on the mend.

The company broke ground on a $100 million expansion to its national mortgage operations at the Jordan Creek campus, the Des Moines Register reported.

“Wells Fargo is absolutely bullish on the housing market, and they’re putting their money where their mouth is with this expansion,” Ken Thomas, a Miami-based independent bank analyst and operation of BranchLocation.com, told the newspaper.

Wells Fargo has a dominant share of the housing lending market, giving it trusted insight, according to the newspaper.

With 13,500 workers, Wells Fargo is already the largest private employer in the Des Moines area and the project potentially will add 1,800 more jobs.

Iowa Lt. Gov. Kim Reynolds, who took part in the groundbreaking ceremony, called Friday “a great day for Iowa.”

“We’re thrilled,” West Des Moines Mayor Steve Gaer said. “It’s a huge confidence-builder for our community to have the largest employer continue to want to expand and add jobs in West Des Moines.”

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