NC: Research and Analytics Company to Create 400 Jobs in Wake County
4 Jun, 2013
Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced that Evalueserve, a global company that provides custom professional research and analytics services to clients around the world, will establish a U.S. Center in Wake County. The company plans to create 400 new jobs in North Carolina by the end of 2017 and invest more than $5.9 million in its Wake County location.
“Evalueserve has found a perfect fit for its Center of Excellence right here in North Carolina,” said Governor Pat McCrory. “The research and analytics jobs that they’ll create will strengthen our hi-tech hub and be an example to others of the strong talent pool and attractive quality of life that characterizes Wake County, the Research Triangle and the state.”
Evalueserve is one of the largest Knowledge Process Outsourcing (KPO) companies in the world. The company analyzes, improves and executes knowledge-intensive processes, and leverages its proprietary technology to increase efficiency and effectiveness. Evalueserve works with Fortune 500 companies, professional services firms, financial services companies, life sciences and healthcare organizations, and several manufacturing and service industries. The company employs more than 2,600 professionals in its research centers around the world.
Dr. Alok Aggarwal, chairman and Marc Vollenweider, CEO said that this move further strengthens Evalueserve’s strategic positioning as a truly global knowledge partner.“Building our presence in the U.S. is integral to our growth strategy, especially as we strive to forge deeper and more strategic relationships with our clients,” said Vollenweider. “We are extremely pleased to begin our partnership with the North Carolina Department of Commerce and to partner with them on this critical initiative.”
“We are committed to creating new jobs in North Carolina, and we welcome these new, high-skilled jobs to Wake County,” said Sharon Decker, North Carolina Secretary of Commerce. “We know that Evalueserve will find the qualified talent it needs to succeed and expand its presence in the U.S.”
Evalueserve plans to open a U.S. Center of Excellence in data analytics and big data science in Wake County, with a focus on financial services research and analytics. The range of solutions will include traditional research support such as risk modeling, equity and fixed income research, and investment banking support, as well as emerging services such as media mix optimization, digital attribution, and performance analytics.
Salaries will vary by job function, but the average annual payroll for the new jobs will be nearly $24 million.
The project was made possible in part by an award to Evalueserve 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, Evalueserve is eligible to receive up to 10annual grants equal to 35 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 10 years, the JDIG award could yield aggregate benefits to Evalueserve of up to $2,925,750.
In addition, up to $975,000 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.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, Wake County, and the Greater Raleigh Chamber of Commerce.
For more information about Evalueserve, including job opportunities, visit www.evalueserve.com.