Durham City Council approves funds for EMC
Posted October 20, 2009
Durham, N.C. — The Durham City Council on Monday approved incentives to help EMC Corp. (NYSE: EMC) establish a new research facility in Durham County.
The city could give the company up to $1 million.
Last week, county commissioners unanimously approved allocating funds to help EMC.
Commissioners are in favor of providing $1.2 million over a period of seven years for costs of the expansion. Of that amount, $200,000 would be reserved to pay for training expenses of employees who are Durham residents.
The storage technology giant will hire 397 people and invest $280 million in the research facility. The jobs will be created over five years.
The new jobs will pay an average salary of $74,325, plus benefits.
EMC already operates one of its major manufacturing facilities in Apex and has a research and development operation in Research Triangle Park.