Citigroup could earn nearly $9 million in tax incentives from the state of North Carolina over the next decade as the bank looks to hire more than 500 employees in Charlotte — one of the country's banking meccas.

"Charlotte stood out as a location where we had a unique opportunity to invest by establishing a formal presence," said Edward Skyler, Citi's head of enterprise services & public affairs. The average salary for the new positions is projected to be $131,832, according to the official release.

Meanwhile, last month, Citigroup announced plans to reduce its workforce by about 3,500 at two of its technology centres in China. "Citigroup to create 510 Jobs in Charlotte " was originally created and published by Retail Banker International, a GlobalData owned brand.