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Infosys Plans Innovation Hub in Wake County, North Carolina

07/07/2017
Global business consulting and information technology company Infosys selected North Carolina’s Research Triangle region as the location for a new technology hub where it will create 2,000 jobs over five years. The company plans to invest $8.73 million to establish its operations center in Wake County, North Carolina.

Infosys recently, announced that it would open four new Technology and Innovation Hubs across the country with a focus on artificial intelligence, machine learning, user experience, emerging digital technologies, cloud, and big data. The North Carolina facility is the second hub identified by the company, following the selection of Indianapolis in May.

“We are proud to partner with North Carolina and Governor Roy Cooper in delivering one of the largest jobs commitment in North Carolina state history. Together, we will develop the next generation of North Carolina innovators through world-class education and training in the critical skills of the future, including Artificial Intelligence, data analytics, cloud and more, and bring scale to North Carolina’s already-thriving ecosystem of innovation to help our clients create their digital futures,” said Dr. Vishal Sikka, CEO, Infosys.

“North Carolina is well-known for innovation, with a talented technology workforce focused on progressive fields like advanced manufacturing and clean technology; a diverse economy from financial services and life sciences; a vibrant startup community across Wake County and Research Triangle; and top-tier universities and community colleges. Together, we can now accelerate and expand, to drive the digital transformation of vital U.S. industries including aerospace, banking, biotech, and energy,” Sikka said.

Infosys’ expansion in Wake County will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee earlier today.

Over the course of the 12-year term of this grant, the project will grow the state’s economy by an estimated $2.9 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $22.4 million, spread over 12 years. State payments only occur following performance verification by the N.C. departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

“North Carolina has a long history of investing in our people and their future,” said North Carolina Commerce Secretary Anthony M. Copeland. “The state’s commitment to worker training is part of that legacy, and it’s a pleasure to partner with a company like Infosys that also sees the value of worker training and education.”

“North Carolina’s central role in technology innovation makes our state a perfect fit for Infosys,” said Governor Cooper. “Our world-class universities and our high-tech workers drive growth and attract companies from around the world that are looking to innovate."

The North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC) led the state’s support for the company’s expansion. Partnering with N.C. Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, North Carolina State University, Wake Technical Community College, Capital Area Workforce Development Board, Wake County, the City of Raleigh, the Town of Cary, the Town of Morrisville, and Wake County Economic Development/Greater Raleigh Chamber of Commerce.

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