Reed Elsevier Inc., a provider of professional information solutions, will expand its operation in Cary, North Carolina, a suburb of Raleigh. The company plans to create 350 jobs over the next five years and invest $1.75 million, said Govenor Bev Perdue.

"We're laser-focused on delivering greater value and better outcomes for our customers," said Mike Walsh, CEO of LexisNexis Legal and Professional, a Reed Elsevier business unit. "The expansion in Cary supports our mission to bring innovative products and services to market, even faster than today."

The company currently employs more than 300 people in Cary and Charlotte, North Carolina, and more than 16,000 workers in North America. While individual wages for the positions will vary by job function, the overall average for the new jobs will be $91,644, plus benefits. The average annual wage in Wake County is $44,980.

"Creating jobs is my top priority and the fact that globally competitive companies continue to make investments like these proves we have a top-notch business climate and a tremendously talented workforce," said Gov. Perdue. "Our legacy of strong investments in education and economic development are continuing to pay off."

The project was made possible in part by a state Job Development Investment Grant. The company is eligible to receive a grant equal to 75 percent of the state personal income withholding taxes, derived from the creation of new jobs for 10 years in which the company meets annual performance targets. If Reed Elsevier meets the targets the grant could yield $8.86 million in maximum benefits for the company.