By The Raleigh Telegram
RALEIGH – Governor Bev Perdue announced this week that thanks in part to state and local incentives that high tech firm NetApp will hire around 460 workers in the area over the next several years.
According to a statement from the governor’s office, the company plans to create 460 new jobs over four years and invest more than $75 million into a new research facility in Research Triangle Park. Research Triangle Park is the government created research and high tech business park bordered by Raleigh, Durham, and Chapel Hill.
According to one source, the jobs will have an average pay of over $100,000 a year, over twice the average salary for other jobs in Wake County. NetApp already employs 1,400 people in its existing Research Triangle Park facility, which has been named one of the best places to work.
“NetApp has had a long and successful presence in RTP and we are excited to build on our relationship with the state of North Carolina, Wake County, and the surrounding area,” said Denise Cox, senior vice president of Global Support for NetApp.
“North Carolina is a tremendous place to do business and our highly-skilled workforce is equipped to support high tech companies like NetApp in their desire to expand here,” said Perdue in a statement.
At a televised news conference announcing the deal, Perdue said that she didn’t want to use incentives to bring businesses here, but until “the game changes on a national level,” then North Carolina has no choice but to use them to attract business. Perdue said one other state was in the running for the facility and North Carolina’s incentives played a role in NetApp’s decision.
According to Perdue’s office, the state Economic Investment Committee wil award a Job Development Investment Grant (JDIG) to NetApp. Under the terms of JDIG, the company is eligible to receive a grant equal to 65 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 10 years in which the company meets annual performance targets. If NetApp meets its targets, the JDIG could refund as much as $11.78 million in taxes to the firm over ten years.
In addition, other funds or services may be provided by the N.C. Department of Commerce, N.C. Community Colleges, and Duke Energy.
Wake County will also participate as a partner in reducing NetApp’s costs, said Governor Perdue’s office.
“NetApp has a great history in the Triangle, and we’re pleased to see the company continue to grow here,” said Senator Josh Stein of Wake County. “I’m confident that our well-trained workforce and business-friendly climate will help them remain successful.”
According to the state, around $3.92 million could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties.
“When a JDIG is awarded in the state’s more economically prosperous counties such as Wake, 25 percent of the grant is allocated to the Utility Fund to encourage economic development in less prosperous counties,” said the governor’s office.
According to the governor’s office, NetApp is headquartered in California and is a Fortune 500 company that employs over 12,000 individuals in more than 170 offices worldwide. Founded in 1992, NetApp provides solutions for data storage and data management.
The new facility in RTP will maximize current technology, said the governor’s office.
“The new RTP data center will leverage the latest virtualization solutions to build a private cloud environment to provide virtual access for NetApp engineering labs around the world,” said Perdue’s office.
“NetApp takes pride in attracting and retaining the industry’s best people and our expansion in RTP will enable us to continue to help our customers achieve business success. Our company culture of living our values and embracing strong principles while treating employees as our greatest asset is at the core of why we are widely considered a best place to work.” ::
Article Posted: Tuesday, July 24th, 2012.