RALEIGH – Hundreds of new jobs paying more than $64,000 are coming to Cary.

In a deal announced Tuesday, PennyMac Financial Services said it chose Cary over sites in three other states for the expansion. It will invest $4.3 million as part of the expansion.

“What initially attracted PennyMac to this region was the diversity and talent that the city has to offer,” said Doug Jones, president of PennyMac, in a statement. “We look forward to establishing a workforce in North Carolina that broadens our national footprint, brings new jobs to the community, and helps us reach our goal of becoming the industry’s best in customer service.”

The North Carolina Economic Development Committee agreed to provide nearly $2 million in tax incentives if job targets are met.

PennyMac already has an office in the Triangle. It agreed to retain 42 current jobs as part of the incentive grant.

A variety of jobs will be avilable. (Check www.pennymac.com/careers for job details.)

“This latest expansion will support the mortgage fulfillment functions of the company’s direct lending operations, which includes loan processing, underwriting, closing and funding,” the NC Department of Commerce explained. “The company’s new footprint will span 35,000 square feet of production, business technology, and IT support.”

The company is based in Westlake Village, Calif. It launched in 2008.

The firm is piblicly traded on the NYSE under the symbol PFSI.

“Growing companies like PennyMac Financial want to expand in North Carolina even during a pandemic because of our strong talent pipeline, steady business climate and our exceptional quality of life,” said Gov. Roy Cooper in the announcement.