Citrix Invests $12.5 Million To Expand In Raleigh, North Carolina, Creating An Estimated 337 Jobs
The total payroll for the new jobs is estimated to be $23.8 million once the project is completed
"The project was made possible in part by a state grant from the Job Development Investment Grant. The fact that Citrix chose to expand in North Carolina is a result of our educated and skilled workforce and our world-class business climate," Gov. Bev Perdue said.
Last October Citrix acquired ShareFile, a Raleigh-based technology company, and through that acquisition, formed the data sharing division of the company. "Raleigh has been home to ShareFile since its inception in 2005. As a hub for prestigious universities and a well-established tech community, we are excited to find new local talent to join our company," said Jesse Lipson, Vice President and General Manager of Data Sharing at Citrix. "We look forward to expanding the Citrix team in what has been recognized as one of the fastest growing U.S. cities."
As a package of incentives, the state Economic Investment Committee awarded a Job Development Investment Grant to Citrix Systems. Under the terms of JDIG, the company is eligible to receive a grant equal to 75 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 12 years in which the company meets annual performance targets. If Citrix meets the targets called for under the agreement and sustains them for 12 years, the JDIG could yield as much as $8.65 million in maximum benefits for the company.
In addition, up to $2.8 million could be added to the state's Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in the state's more economically prosperous counties such as Wake, 25 percent of the grant is allocated to the Utility Fund to encourage economic development in less prosperous counties.
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