Business

Cary in running for 1,200 IT jobs

Posted July 15, 2014
Updated July 16, 2014

NEW JOBS

— A technology firm is considering an operation in Cary that could bring more than 1,200 jobs to the town, according to town records.

The Cary Town Council was to hold a public hearing Thursday to consider providing $123,700 in incentives to the unidentified company, but the item was removed from the agenda. No new date has been set for the public hearing.

The incentives would provide a local match for a similar One North Carolina Fund grant from the state.


Inside Look at Cary's job proposal:


The "international information technology and engineering services firm" could invest $9 million in a Cary facility and create 1,237 jobs within three years, according to town records. The average salary at the facility would be $52,000.

The state is also offering a Job Development Investment Grant of up to $17 million to the firm, records show. The grant basically refunds part of the company's withholding taxes if it meets investment and hiring targets each year over a specified period.

If Cary is chosen for the new operation, it would mark the second big economic development announcement there in the past 16 months. Insurance giant MetLife picked the town last year for a technology hub that is expected to eventually employ 1,200 people.

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  • AmazedAtThis Jul 15, 2014

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    Um....why not? Jobs that pay on average, $12k above the state average and $7k above the national average. Above average salaried jobs for an international firm. Not sure what you're holding out for, but these kinds of companies make a very solid contribution to a community. But, yeah, let's hold out for a better offer....please.

  • AmazedAtThis Jul 15, 2014

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    Actually, Met is expecting most of the jobs coming here to be local hires. They are planning for a very large percentage of the folks up north not to come. As one of the new local hires, thought I'd share some facts.

  • timmytim Jul 15, 2014

    MetLife seems to be shipping lots of folks in from out of state to fill their jobs so I'm not sure that's a model we want to try and replicate.

  • European American Jul 15, 2014

    A shame that states give handouts (aka Corporate Welfare) to companies and the politicians will hold camera-ready interviews. But when the handouts are to individual people, NO, can't do that.

  • housemanagercary Jul 15, 2014

    Yes CAS-65.... $9 mil facility and avg pay of $52000 does sound like manufacturing. That's not the type of IT jobs Cary wants.

  • cas-65 Jul 15, 2014

    Sounds like a manufacturing or assembly plant.

  • Mon Account Jul 15, 2014

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    Mean, median and mode are 3 most common types of averages. Higher level statistics has more. "Mean" is considered the most common average and people will add up & divide by entity count when asked "what is the average."

    I can agree though; average implies mean unless stated otherwise. When it comes to saying "average salary", though, people generally prefer the mode.

  • iopsyc Jul 15, 2014

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    Typically, when not specified, most people refer to the mean when they say "average".

    Yes, the mean is sensitive to outlying values, like a CEOs pay, and as such would not be ideal if such a value is included in the calculation. In that case, the median would be so much better. Cest la vie.

  • Matt Wood Jul 15, 2014

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    Average=Mean

    I have never heard anyone refer to a median or mode as an average...

  • umop apisdn Jul 15, 2014

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    It says average so I would think it would be the mean. There should be a stipulation that they would hire either no or limited H1Bs.

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