Professional information firm to add 350 jobs in Cary
Posted February 15, 2012
Cary, N.C. — A company that mines information for the science, medical, legal, risk management and business-to-business sectors will add 350 jobs to its Cary operations over the next five years, officials said Wednesday.
Reed Elsevier Inc. is expected to invest $1.75 million in its expansion. The firm already employs 300 people in Cary and Charlotte.
“We’re laser-focused on delivering greater value and better outcomes for our customers,” Mike Walsh, chief executive of LexisNexis Legal & Professional, one of the company's business units, said in a statement. “The expansion in Cary supports our mission to bring innovative products and services to market even faster.”
Reed Elsevier plans to concentrate additional marketing, sales, customer support and product development in the Wake County facility. The new jobs will have an average annual salary of $91,644, plus benefits, which is more than double the county's average annual wage of $44,980.
The state Economic Investment Committee voted Wednesday to award a Job Development Investment Grant to Reed Elsevier. Under the terms of the JDIG, the company can receive a grant equal to 75 percent of the state withholding taxes on new jobs for each of 10 years that it meets annual performance targets.
The company could earn up to $8.86 million under the JDIG, officials said.