Updated Jul. 16, 2014 at 11:12 a.m.

Commerce: Jobs announcement today is not about Cary

Published: 2014-07-15 12:31:00
Updated: 2014-07-16 11:12:37


Gov. Pat McCrory is scheduled to make an "economic development announcement" Wednesday afternoon at 3 at the Greater Raleigh Chamber of Commerce, according to the governor's press office.

A spokesperson for the N.C. Department of Commerce described the announcement as "significant."

However, the spokesperson added, the news does not involve a project involving 1,200 IT jobs for Cary.

The Cary Town Council is considering providing $123,700 in incentives to the unidentified company. The incentives would provide a local match for a similar One North Carolina Fund grant from the state.

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


Inside Look at Cary's job proposal:


The Town Council was expected 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 for the public hearing has been set.

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

North Carolina's Economic Investment Committee, which oversees job-related incentives, is scheduled to meet on July 22.

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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