HCL Technologies, a global IT services provider will be expanding its presence in Cary, North Carolina. The company plans to expand its existing center and create an additional 1,237 jobs in Wake County by the end of 2018.
According to state economic development officials, HCL sees Cary as a strategic talent hub in the Americas and will invest approximately $9 million in expanding the center. The company continues to invest in its global delivery footprint in order to enhance value for its clients by developing nearshore capabilities. HCL will hire computer professionals to develop, maintain and upgrade software applications and provide services to global clients.
“Given our core philosophy of building Relationships Beyond the Contract, we remain committed to enhance our investments by developing nearshore capabilities in the communities we operate in,” said Anant Gupta, CEO, HCL Technologies. “We will continue to bring global expertise and experience to accelerate growth and success for our clients, partners, employees and the communities in the region.”
“HCL has been steadily building its Wake County presence and one reason is the incredible talent pool the Triangle region has to offer IT companies," Governor Pat McCrory said. "Providing a well-trained and motivated workforce that meets the real-world needs of employers is evidence of the importance that North Carolina puts on helping employers grow."
The project was made possible in part by an award to HCL 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, HCL is eligible to receive up to twelve annual grants equal to 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 HCL of more than $19.6 million upon the creation of 1,237 jobs.
The project was also made possible in part by a performance-based grant from the One North Carolina Fund of up to $123,700. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, Economic Development Partnership of N.C., the NC Community College System, Wake Technical Community College, NC Works, Capital Area Workforce Development Board, Duke University, NC A & T University, NC State University, The University of North Carolina at Chapel Hill, NC Technology Association, The Town of Cary, Cary Chamber of Commerce and Wake County Economic Development.