Cognizant will invest more than $1.4 million to open a new IT Delivery and Operations Center in Charlotte, North Carolina. The company, a leading provider of information technology, consulting and business process services, plans to create 500 jobs in North Carolina by the end of 2018.

“North Carolina and the Charlotte area are home to some of our largest current and prospective clients. This combined with the state’s strong educational institutions and technology base makes the Charlotte area an attractive location for our newest IT delivery and operations center,” said Gordon Coburn, Cognizant’s President. “The new Charlotte delivery and operations center will focus on helping our clients in North Carolina and around the world transform into digital enterprises by utilizing innovative new technologies to interact with and provide services to their customers.”

Teaneck, New Jersey-based Cognizant currently has nearly 1,500 employees working in North Carolina in Raleigh, Charlotte, Greensboro and Wilson. The company will hire highly-skilled technology and business professionals to provide consulting and business process services.

The project was made possible in part by an award to Cognizant 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. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.

Under the terms of the company’s JDIG award, Cognizant is eligible to receive up to twelve annual grants equal to 32 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 twelve years, the JDIG award could yield aggregate benefits to Cognizant of more than $5 million.

In addition to the N.C. Department of Commerce and the Economic Development Partnership of N.C., other partners who assisted with this announcement include: NC Works, Charlotte Works, Charlotte Chamber of Commerce, Wake County Economic Development, Greater Raleigh Chamber of Commerce, City of Raleigh and Capital Area Workforce Development Board.