Business

Red Hat to move headquarters to downtown Raleigh

Posted August 25, 2011 3:39 p.m. EDT
Updated August 25, 2011 4:36 p.m. EDT

— Software developer Red Hat announced Thursday that it will move its corporate headquarters from North Carolina State University's Centennial Campus into downtown Raleigh's Progress Energy building.

There is no timeline for the move, a company spokeswoman said, and it wasn't clear how much space the company would take.

Progress Energy is expected to vacate part of the building following its merger with Charlotte-based Duke Energy.

Red Hat said in January that it planned to expand its headquarters in Wake County and invest $109 million in doing so.

The state Economic Development Committee awarded Red Hat close to $15 million in incentives for a two-tiered expansion in the Triangle.

The company has said it plans to add 240 jobs over the next four years and another 300 in 2015 to accommodate new products.

The average annual salary would be $80,000 to $83,000, nearly double Wake County's average of $42,700.

State officials estimate the total economic impact of Red Hat's expansion at $1.5 billion.