U.S. Bank will open a new Service Center, bringing more than 1,100 jobs to the area. The bank will occupy the former Capital One Home Loan headquarters building in the first quarter of 2011. The building, which is situated in the Deer Creek Commons office park, will undergo a $21 million renovation project.

"This new U.S. Bank Service Center illustrates our growth and commitment to the Kansas City metropolitan area in the form of new jobs and a new future for this existing facility, which previously housed another company," says Mark Jorgenson, president of U.S. Bank in Kansas City. "U.S. Bank selected the Kansas City area after an extensive national search. At the end of the day, U.S. Bank was excited and impressed with the labor quality in the Kansas City area, and we expect to draw top rate job applicants from the Kansas City metro."

The lease terms of the deal were not disclosed.

U.S. Bank also has call centers in Cincinnati; Coeur d'Alene, ID; Denver; Fargo, ND.; Milwaukee; Portland, OR; St. Louis; and St. Paul, MN. The Overland Park center will be one of the largest.

"The U.S. Bank decision to invest in Overland Park - and the metro community at-large - represents an extraordinary level of commitment to their operations and strategic market focus. We are very happy to have these jobs in our community, and we are confident that Overland Park's high quality workforce and location offerings will help them achieve their corporate goals," says Lavern Squier, SVP of economic development for the Overland Park Chamber of Commerce, in a statement.

JP Morgan also has expansion plans for the area. The company signed a 10-year lease for 175,000 square feet on the Sprint Nextel Corp. world headquarters campus. Roughly 800 employees will take up space in the facility by the first quarter 2011.

Currently, JP Morgan leases 217,000 square feet at 9300 Ward Pkwy. in Kansas City. Earlier in the year, JP Morgan executives said they would vacate the space by 2011 to make room for Burns & McDonnell, which plans to expand its headquarters facility into the building JP Morgan now occupies.

The lease terms of the deal were not disclosed.