Booz Allen Hamilton Expands Cumberland County, North Carolina, Operations
The project includes two phases. In the first phase, Booz Allen plans to expand its footprint in Fayetteville. In phase two, Booz Allen will look to expand or relocate within Cumberland County to accommodate the continued growth in the area.
“We look forward to supporting our clients with the diverse and talented workforce in and around Cumberland County,” said Joseph Dodd, Vice President at Booz Allen. “In addition to a strong business community, Fayetteville’s proximity to Fort Bragg and Camp Lejeune provides an important access point to an exciting talent pipeline of military spouses with diverse skill sets, as well as veterans who are transitioning from the military and seeking high-impact, mission-focused careers.”
Booz Allen’s growth in Cumberland County will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project will grow the state’s economy by an estimated $213 million. Using a formula that accounts for the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,803,600 spread over 12 years. State payments only occur following performance verification by the Departments of Commerce and 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.
In addition, City of Fayetteville and Cumberland County supported the project with local grants totaling $178,000. Booz Allen will add a variety of job functions with this project, the majority focused on technology, including data scientists, information security experts, machine learning specialists, software developers, software testers, IT engineers and architects, systems engineers and training designers.
The North Carolina Department of Commerce and the Economic Development Partnership of N.C. (EDPNC) led the state’s support for the company’s selection in cooperation with the Fayetteville Cumberland County Economic Development Corporation.
“Booz Allen Hamilton is expanding here thanks to Cumberland County’s workforce, which is strengthened by the military spouses and veterans who live and work around Fort Bragg and surrounding bases,” said Governor Cooper. “The majority of these new jobs will be IT focused, and Booz Allen knows we have the IT talent and training resources to deliver so they can continue tackling the complex military, business and government challenges of today and the future.”
Because Booz Allen chose to locate in Cumberland County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving as much as $200,400 in new tax revenue generated through the grant 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 2 county such as Cumberland, the new tax revenue generated through JDIG grants helps more economically challenged communities throughout the state. More information on the state’s economic tier designations is available here.
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