NC: HCL Expansion Decision Will Add 1,237 Jobs in Cary
19 Sep, 2014
Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced HCL Technologies Ltd (HCL), a leading global IT services provider will be expanding its presence in Wake County. The company plans to expand its existing center and create an additional 1,237 jobs in Cary by the end of 2018.
As part of its strategy to accelerate innovation and further enhance satisfaction for its clients, HCL sees Cary as a strategic talent hub in the Americas and will invest approximately $9 million in expanding the center. The company continues to invest in its global delivery footprint in order to enhance value for its clients by developing nearshore capabilities.
“HCL has been steadily building its Wake County presence and one reason is the incredible talent pool the Triangle region has to offer IT companies," Governor McCrory said. "Providing a well-trained and motivated workforce that meets the real-world needs of employers is evidence of the importance that North Carolina puts on helping employers grow."
HCL in America is headquartered in Sunnyvale, California. With more than 8,000 employees in 15 states, HCL’s business in America contributes more than 50% of HCL’s global revenues. HCL already has partnerships with North Carolina New Schools for STEM related initiatives to leverage HCL’s services for content creation and management of its collaborative, online community.
“Given our core philosophy of building Relationships Beyond the Contract (RBtC), we remain committed to enhance our investments by developing nearshore capabilities in the communities we operate in,” said Mr. Anant Gupta, CEO, HCL Technologies. “We will continue to bring global expertise and experience to accelerate growth and success for our clients, partners, employees and the communities in the region.”
“North Carolina has worked hard to establish itself as one of the leading states in the IT industry and we are getting results,” said Secretary Decker. “As North Carolina continues to grow its non-traditional industries, we will see more companies like HCL choose North Carolina.”
HCL will hire computer professionals to develop, maintain and upgrade software applications and provide services to global clients. Salaries will vary by job function and experience, but the average annual payroll for the new jobs is expected to be nearly $64 million.
“What a great day for Cary and for Wake County,” said Senator Tamara Barringer. “Congratulations to HCL for bringing these new, quality jobs to North Carolina.”
“These additional jobs at HCL are going to be an incredible boost to the Cary economy,” said Representative Nelson Dollar. “The Triangle Region is one of the country’s top IT markets, and this is just further evidence of that.”
The project was made possible in part by an award to HCL from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, HCL is eligible to receive up to twelve annual grants equal to 75% percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over twelve years, the JDIG award could yield aggregate benefits to HCL of more than $19.6 million upon the creation of 1,237 jobs.
An estimated $6.5 million in additional funds from the company’s JDIG award could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded to a company whose site is located in the state’s more economically prosperous counties such as Wake, 25 percent of the company’s grant is allocated to the Utility Fund to encourage economic development in less prosperous counties. For more information on the county tier designations, visit: http://www.nccommerce.com/research-publications/incentive-reports/county-tier-designations
The project was also made possible in part by a performance-based grant from the One North Carolina Fund of up to $123,700. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, Economic Development Partnership of N.C., the NC Community College System, Wake Technical Community College, NC Works, Capital Area Workforce Development Board, Duke University, NC A & T University, NC State University, The University of North Carolina at Chapel Hill, NC Technology Association, The Town of Cary, Cary Chamber of Commerce and Wake County Economic Development.
About HCL Technologies
HCL Technologies is a leading global IT services company. The company offers software-led IT solutions, remote infrastructure management, engineering and R&D services and business services. HCL has a global network with offices in 31 countries servicing industries such as telecoms, media & entertainment, retail, financial services, manufacturing, public services, healthcare & life sciences. HCL Technologies, along with its subsidiaries, had consolidated revenues of $5.4 billion, as of June 30th, 2014 (on LTM basis).
For more information, please visit www.hcltech.com.
For company details contact: Meenakshi.email@example.com .