A company that pioneered the Internet Protocol -based networking technology, Cisco will expand its workforce in Research Triangle Park, North Carolina, with plans to create 550 jobs by the end of 2017. Cisco plans to hire a mix of finance, operations and advanced network services personnel over the next four years.
“For more than twenty years we have been dedicated to contributing to North Carolina’s economy and investing in the local community,” said Gary Moore, Cisco President/COO. “By expanding our presence and hiring the best talent, we will continue developing technology solutions that will enable the Internet of Everything and fuel innovation here in RTP.”
“Cisco has long been a strategic and valued partner of our great state,” said Governor Pat McCrory. “With more than 4,600 full time employees already spread throughout North Carolina, we are proud to have Cisco expand its presence. These new jobs will support innovation, add to a strong base of tech-savvy workers and strengthen the Triangle’s economy.”
“North Carolina, Wake County and RTP have proven to be an exceptional source of talent for our state,” said North Carolina Commerce Secretary Sharon Decker. “Cisco continues to push innovation and add to our workforce, and we welcome this expansion.”
“This defining expansion of Cisco in RTP is proof that the ‘Carolina Comeback’ is reaching companies on a global scale,” said Representative Tom Murry. “As Chair of the House Commerce and Job Development Committee, I commend Governor McCrory and Secretary Decker for their commitment to creating new jobs throughout North Carolina and I am proud to have been a part of this announcement.”
The project was made possible in part by an award to Cisco 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, Cisco is eligible to receive up to twelve annual grants based on 75 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 Cisco of $12.9 million.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, NC Community College system, Wake Technical Community College, Capital Area Workforce Development Board, Wake County Economic Development and Greater Raleigh Chamber of Commerce.