IBM Lender Business Process Services is investing $3.7 million and hiring 600 employees in North Carolina's Research Triangle Park. The expansion is being partly funded by a Job Development Investment Grant from the state.

"The new services operation furthers our commitment to the state of North Carolina and our ongoing presence in Research Triangle Park," said Bob Greenberg, senior state executive at IBM North Carolina. "These skilled positions, coupled with our investment earlier this year in an energy efficient cloud-computing data center, demonstrate that as the marketplace demands new skills and technology, growth opportunities in North Carolina continue to be a hub of activity."

The state's Economic Investment Committee has already voted to approve IBM for the Job Development grant. If IBM creates as many jobs as projected, it could receive up to $7.79 million. The grant is only extended to new and expanding businesses and industrial projects whose benefits to the state outweigh costs.