Raleigh, N.C. – 18 September 2014 - HCL Technologies Ltd (HCL), a leading global IT services provider will be expanding its presence in Wake County, North Carolina. The company will invest approximately $9 million to expand its existing delivery center and create an additional 1,237 jobs in Cary by the end of 2018.
“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," North Carolina Governor Pat McCrory said.
HCL in America is headquartered in Sunnyvale, California. With more than 8,000 employees in 15 states, HCL’s business in America contributes more than 50% of HCL’s global revenues. HCL already has partnerships with North Carolina New Schools for STEM related initiatives to leverage HCL’s services for content creation and management of its collaborative, online community.
“Given our core philosophy of building Relationships Beyond the Contract (RBtC), we remain committed to enhance our investments by developing nearshore capabilities in the communities we operate in,” said Mr. Anant Gupta, CEO, HCL Technologies.
HCL will hire computer professionals to develop, maintain and upgrade software applications and provide services to global clients. Salaries will vary by job function and experience, but the average annual payroll for the new jobs is expected to be nearly $64 million.
The project was made possible in part by an award to HCL from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee. 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.
HCL Technologies is a leading global IT services company. The company offers software-led IT solutions, remote infrastructure management, engineering and R&D services and business services. HCL has a global network with offices in 31 countries servicing industries such as telecoms, media & entertainment, retail, financial services, manufacturing, public services, healthcare & life sciences. HCL Technologies, along with its subsidiaries, had consolidated revenues of $5.4 billion, as of June 30th, 2014 (on LTM basis).
Source: HCL Technologies