DB Global Technology Invests $13.5 Million To Expand Its Software Development Center In Carey, North Carolina
Area Development Online News Desk (06/21/2013)
DB Global Technology, Inc., a company that provides software application development and maintenance services in support of Deutsche Bank AG, will expand its software development center in Wake County’s Cary, North Carolina. The company plans to invest more than $13.5 million to create 431 new jobs by the end of 2016.
”North Carolina, Wake County and the Town of Cary have proven to be an exceptional source of talent for our company, as well as strong partners in growth and opportunity. We are very excited to be growing in North Carolina and looking forward to continued success in hiring exceptional technical talent and providing world class software to our client,” said John Eagleson, Chief Operating Officer for DB Global Technology, Inc.
DB Global Technology, Inc. which currently employs 250 people in Cary, is expanding its Wake County operations to focus on strategic application development work and the development of technology solutions. As the investment banking sector becomes increasingly reliant on technology, DB Global Technology, Inc. said it expects demands for its services to grow.
“High-tech research companies like DB Global Technology, Inc. know that North Carolina is just the place for their business to grow,” said Gov. Pat McCrory. “The additional IT jobs that they’ll create will strengthen the Cary corporate mix and be an example to others of the strong talent pool and attractive quality of life that characterizes this region of the state.”
“We are committed to creating new jobs in North Carolina and really want to work with existing companies like DB Global Technology, Inc. to assist in their growth,” said Sharon Decker, North Carolina Secretary of Commerce. “We applaud the management team for their commitment to re-invest in North Carolina and expand their global footprint in Wake County.”
The project was made possible in part by an award to DB Global Technology, Inc. from the state Job Development Investment Grant program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements.
Under the terms of the company’s JDIG award, DB Global Technology, Inc. is eligible to receive up to ten annual grants equal to 35 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over ten years, the JDIG award could yield aggregate benefits to DB Global Technology, Inc. of up to $5.55 million.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, Wake County Economic Development, Town of Cary and the Cary Chamber of Commerce.