A Wireless, Verizon’s largest exclusive independent agent by store count, selected Wake County as its new headquarters and home of its support operations, creating 250 jobs over five years. The company plans to invest $4.95 million in North Carolina.
The company’s new headquarters will include executive leadership, operations and administrative functions. The 250 new positions expected at the headquarters are critical to the company’s continued growth and will support an expected $23 million in annual wages.
“We are thrilled to locate our corporate headquarters in Wake County,” stated George Sherman, CEO of A Wireless. “The community’s robust job market, skilled people, vibrant growth, and strong technology base provide the right resources for us to continue our rapid growth.”
A Wireless’s expansion in North Carolina will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee.
Over the course of the 12-year term of this grant, the project is expected to grow the state’s economy by an estimated $640 million. 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 $3.3 million, spread over 12 years.
State payments only occur following performance verification by N.C. Commerce and N.C. Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Because A Wireless chose to locate in Wake County, the company’s JDIG agreement also calls for moving as much as $1.1 million into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Wake, the new tax revenue generated through JDIG grants helps communities across the state. More information on the state’s economic tier designations is available here.
Partnering with N.C. Commerce and the EDPNC on this project were the North Carolina General Assembly, the City of Raleigh, the North Carolina Community College System and Wake County Economic Development.
“A Wireless will join a growing number of technology leaders who call North Carolina home,” said North Carolina Commerce Secretary Anthony M. Copeland. “Our state’s university and community college system, talent, quality of life, and community of IT powerhouses allow companies like A Wireless to thrive.”