RALEIGH – A company that manufactures smart meters and other technology to track electric, gas and water usage, will bring about 300 new jobs to Durham in exchange for more than $3 million in incentives.

The state’s Economic Investment Committee unanimously approved a Job Development Investment grant Tuesday morning for Sensus USA as the company seeks to expand its existing research and development facility in the Bull City. North Carolina beat out New York and India for the project.

The average salary for the new positions is more than $90,000 a year.

Sensus is a subsidiary of New York-based water technology company Xylem, which acquired the smart meter manufacturer for $1.7 billion in 2016. Headquartered in Raleigh, Sensus makes and sells sensors, devices and software to monitor utility infrastructure and operations around the world.

There are already almost 700 Sensus employees based in North Carolina. If the company retains those jobs and meets its hiring targets, the JDIG award means Sensus can recoup more than a third of the state tax withholdings from its new workers for up to 12 years. State Department of Commerce put the value of that incentive at $3.5 million, an amount enhanced by another $40,000 in grants from Durham.

Durham’s status as one of the state’s most prosperous – or “tier 3” – counties means about $1.2 million will flow to the state’s utility account, which funds infrastructure improvements like water and sewer installations for economic development in poorer counties.

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