Ipreo Holdings Invests $3 Million In Raleigh, North Carolina, Business Center
Ipreo plans to establish a business center in Raleigh that will both mirror its New York City headquarters operations and serve as a base for future growth. Staffing plans include product development, client services and analytical functions.
“The North Carolina Research Triangle combines one of the deepest pools of technology talent in the US with a highly respected university system from which we can recruit the caliber of individual that we at Ipreo demand and our clients expect,” said Scott Ganeles, CEO of Ipreo. “This, along with support from the North Carolina Department of Commerce and the initial warm reception we have received from the local universities, have led us to our decision to make a major commitment to the region. We’re looking forward to playing an active and productive role in the Raleigh community.”
“Ipreo is just the kind of company we want to attract to North Carolina,” said Governor Pat McCrory. “The new IT and financial jobs will strengthen the downtown Raleigh corporate mix and be an example to others of the strong talent pool and attractive quality of life that characterizes Raleigh, Wake County and the state.”
“We are committed to creating new jobs in North Carolina and know that Ipreo will become a strong corporate partner for us,” said Sharon Decker, North Carolina Secretary of Commerce. “We applaud the Ipreo executives for their commitment to invest in North Carolina and expand their global footprint in Wake County.”
The project was made possible in part by an award to Ipreo 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, Ipreo is eligible to receive up to nine annual grants equal to 65 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 nine years, the JDIG award could yield aggregate benefits to Ipreo of up to $3,783,000.
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