LexisNexis is relocating its software division to N.C. State University’s Centennial Campus, a move that will allow it to double its space offering room to grow.
The company, a division of publisher and information provider Reed Elsevier, said Thursday that it has reached an agreement to move its Cary software operations into the building formerly occupied by open source software company Red Hat.
LexisNexis’ software division is a new but growing division in the company. The company occupies about 50,000 square feet at its current Regency Park location in Cary. It will have more than 120,000 square feet in Centennial Campus. LexisNexis said it is building a “Software Center of Excellence.” The Centennial Campus site will be headquarters for the LexisNexis Business of Law Software Solutions division and other product and technology groups within the LexisNexis community.
“NC State’s partnership with LexisNexis demonstrates our ongoing commitment to innovation,” said Chancellor Randy Woodson in announcing the move. “We couldn’t be more excited about the company’s move to Centennial Campus.”
As of now, LexisNexis employs just shy of 250 people in Cary. The company said that it is on its way to meeting its 2012 commitment to creating 350 jobs in North Carolina in five years. LexisNexis pledged the jobs with in connection with state incentives. North Carolina awarded Reed Elsevier a Job Development Investment Grant.
The grant is equal to 75 percent of the state witholding taxes on new jobs for each of the 10 years that it meets annual performance target. State officials said at the time that Reed Elsevier could gain up to $8.86 million under the JDIG. Reed Elsevier said then it would invest $1.75 million in its expansion.
“Our new office location, centered in the midst of one of the most vibrant and dynamic learning institutions for engineering in the country, is inherently beneficial to employees and customers alike,” said Michael Lipps, vice president and managing director for the LexisNexis BLSS business. “Centennial Campus is brimming with passion, enthusiasm and ideas for technology innovation; the university location literally represents the intersection of theoretical research with practical application.”
Lexis Nexis plans a formal reception to kick off the move, which it is calling its “back to school event,” for 2:30 p.m. on Oct. 4 at the James B. Hunt Jr. Library Auditorium on Centennial Campus. The actual move is set to begin in early 2014 and should be complete by year’s end.
“We’re laser-focused on delivering greater value and better outcomes for our customers,” Mike Walsh, chief executive of LexisNexis Legal & Professional, one of the company’s business units, said in a statement when the original expansion was announced. “The expansion in Cary supports our mission to bring innovative products and services to market even faster.”
Reed Elsevier plans to concentrate additional marketing, sales, customer support and product development in the Wake County facility. The new jobs will have an average annual salary of $91,644, plus benefits, which is more than double the county’s average annual wage of $44,980.
