Cary in running for 1,200 IT jobs
Posted July 15, 2014
Updated July 16, 2014
Cary, N.C. — 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:
- For WRAL techWire Insider subscribers: A Town of Cary "report" spells out details of the job recruitment 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.