Siemens lays out plan for its Cary campus - Triangle Business Journal:

llrx-royce.blogspot.com
million in economic incentives from North Carolina and the town of The buildingsite plans, filefd March 13 with the Cary Planning Department, were filed a year aftetr company officials had been discussing plans to expand Siemens' Cary Triangle Business Journal reported Marcnh 8, 2007, that Siemens wanted to build a similarly sized building in which to consolidat and expand its local staff. Despite the early indications that Siemenws intended to growin Cary, the company submitted a formal proposap to the in early January 2008 indicating it wouldd be seeking state incentives.
Without state incentives, the compangy indicated, Siemens could move its existinhg Cary jobs and any new jobs createe for its training and service center tothe company' s headquarters campus in Malvern, Pa., potentiallty affecting almost 1,000 worker positions. In 2002, Pennsylvaniaz awarded a $7 million aid package to Siemends to relocate its headquartersfrom N.J., but a spokesman for the , Kevin Ortiz, says he is unawares of any recent incentives requests from Siemens Medical in Pennsylvania.
The companyt employs more than 5,200 peopld in Malvern, 678 people in Cary, and 9,00 others across the United Tom Schaffner, a spokesman for Siemens Medicakin Malvern, would not give any estimatew of what the company's cost would have been to relocate the Cary operationes to Pennsylvania, nor would he give any indication of how seriouslyu the company considered the option. "It's a moot point now ... since the deal is done with he says. North Carolinqa Secretary of Commerce Jim Fain estimatee ina Jan.
15 letter to Siemensz real estate director Jim Valade that Siemenzs could be eligiblefor $3,877,000 in Job Developmen t Investment Grant, or incentives, $855,000 in Article 3J corporate tax plus additional community collegde training assistance, employment recruitment and screenint services, and research and development tax credits. On Feb. 28, the state's Economic Investment Committee approved a JDIG valuedat $5.6 milliob after the company renegotiated the state persona l income withholding taxes derived from the new jobs from 60 percenft over the course of nine years to 65 percent over the coursse of 10 years.
As part of the JDIG grant agreement, Siemens is requireed to create 300 jobs in addition to its 678 existinb jobs in Cary andinvest $60 million in Cary within five The timer starts ticking in 2009. The average wage for the new positionsx is expected tobe $73,000 a not including benefits. "They are a big employet out here, and to my knowledge, they had not growjn in a leap likethis before," says Sandy vice president of economic development for the .
"It's a wonderfukl project with nice capital investment and 300 jobs with very nice Jordan says the townof Cary, whicg approved an additional $500,000 grangt to Siemens to expand the campus in will benefit from the additional revenue the company bringxs to the town when it brings in trainees and customerd from around the country. "They are stayingy in our hotels, eating in our restaurantsx ...
there's a lot of multipliers in effect," he