CHARLOTTE -- Citigroup’s purchase of Wachovia Corporation’s retail assets early Monday morning continues to have ramifications in Charlotte and the surrounding communities.

While Wachovia’s retail banking headquarters will remain in Charlotte, those with the organization are concerned about what will happen with their jobs now that the $2.2 billion deal has been made. Wachovia is the second largest employer in Charlotte behind Carolinas Healthcare System – meaning thousands of people and jobs are now up in the air.

Some finance professors are estimating that 3,000 jobs will be lost due to the sale. That could have an impact on a number of different areas, including the region’s housing market, employment market and vendor relations.

"Wachovia and its predecessor, First Union, have helped to make Charlotte everything that we are today,” said Charlotte Chamber president Bob Morgan. “They've played that role across the state of North Carolina and throughout the Southeast."

So, now the question is what role will Citigroup play in the state's economy. Community leaders like Morgan and Charlotte City Council member John Lassiter say they will work hard to make sure the company continues to have a lead role economically for the state.

They are now selling Charlotte to Citigroup in hopes that it’ll buy into the community.

"We've got real estate at a very low price compared to what it costs to rent space in New York, Chicago or Washington, so we've got a lot to offer here and I think they understand that," Lassiter said.

In addition to great city life, Lassiter says the city will work with state and federal officials to see if Citigroup qualifies for incentives or tax breaks to keep jobs in the state.

"Whether they are going to be available in this situation is too early to tell,” he said. “If we do have tools to keep those jobs in North Carolina, we're going to try to do that."

City leaders also hope that the new Wachovia tower, which is currently under construction, will keep jobs in Charlotte due to the capital costs already invested in the project.

Charlotte Mayor Pat McCrory has cut short his campaign for North Carolina governor to focus on his mayoral duties in the Queen City.

McCrory canceled a lunch in Waynesville and a rally in Brevard on Monday afternoon to deal with the aftermath of the sale. As of late Monday, a spokesperson for the campaign said his schedule for Tuesday is still unclear.

Democratic gubernatorial candidate Beverly Perdue weighed in on the sale as well on Monday, saying the effects will ripple throughout the entire state and not just the Charlotte headquarters.

The sale could also have a big impact on area nonprofit groups. The company’s contributions to Habitat for Humanity helped build more than 20 homes in recent years – two of which are under construction now in west Charlotte.

Wachovia is also the title sponsor for the Wachovia Championship PGA golf tournament, as well as a provider of sponsorship money for other area college and professional sports teams.