Gov. Bev Perdue announced Wednesday, Feb. 15, that Reed Elsevier Inc.—a world-leading provider of professional information solutions—will expand its operations in Cary. The company plans to create 350 jobs over the next five years and invest $1.75 million. The project was made possible in part by state grants from the Job Development Investment Grant.
“Creating jobs is my top priority and the fact that globally competitive companies continue to make investments like these proves we have a top-notch business climate and a tremendously talented workforce,” Perdue said. “Our legacy of strong investments in education and economic are continuing to pay off.”
Reed Elsevier was formed in 1993 when Reed International joined Elsevier NV, and the two entities focused on professional information solutions in the science, medical, legal, risk management and business-to-business sectors. Reed Elsevier currently consists of five major business units including: Elsevier, LexisNexis Risk Solutions, LexisNexis Legal & Professional, Reed Exhibitions and Reed Business Information. As part of this project, Reed Elsevier will concentrate additional marketing, sales, customer support and product development in the Wake County facility.
“We’re laser-focused on delivering greater value and better outcomes for our customers,” said Mike Walsh, CEO of LexisNexis Legal & Professional. “The expansion in Cary supports our mission to bring innovative products and services to market, even faster than today.”
The company currently employs more than 300 people in Cary and Charlotte. The group employs more than 30,000 people globally, including more than 16,000 in North America.
While individual wages for the positions will vary by job function, the overall average for the new jobs will be $91,644, plus benefits. The average annual wage in Wake County is $44,980.
To help facilitate this expansion, the state Economic Investment Committee voted to award a Job Development Investment Grant to Reed Elsevier. 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 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 10 years in which the company meets annual performance targets. If Reed Elsevier meets the targets called for under the agreement and sustains them for 10 years, the JDIG could yield $8.86 million in maximum benefits for the company.
In addition, up to $2.95 million could be added to the state’s utility fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in Tier 3 counties such as Wake, 25 percent of the grant is allocated to this fund to encourage economic development in less prosperous areas.
Other partners who assisted with this project include: the N.C. Department of Commerce, N.C. Community Colleges, the Town of Cary and Cary Economic Develelopment.
Through Perdue’s JobsNOW initiative, the state continues to work aggressively to create well-paying jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
For more information about Reed Elsevier, including job opportunities, visit www.reedelsevier.com.
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Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Tuesday, February 21, 2012
Friday, February 10, 2012
Hagan launches North Carolina Back to Work Jobs Tour
U.S. Sen. Kay R. Hagan (D—N.C.) on Friday, Jan. 27, launched her North Carolina Back to Work Jobs Tour to determine the most effective ways to get North Carolinians back to work right now.
Hagan began the tour in Scotland County, where unemployment stands at 16.6 percent—the highest of any county in North Carolina. She toured Service Thread Manufacturing, a textile company that employs approximately 75 people and manufactures industrial yarns and sewing threads, converted multifilament yarns and engineered specialty textile products.
“Jobs are my No. one priority,” said Hagan. “Everywhere I go in our state, unemployment is the issue I hear about from North Carolinians. I am launching my North Carolina Back to Work Jobs Tour to focus on action and ideas that will get unemployed North Carolinians back on the job as quickly as possible. With unemployment at almost 10 percent in our state, and as high as 16.6 percent in Scotland County, we don’t have a minute to waste in rolling up our sleeves to find commonsense, bipartisan solutions to get employment back on track.”
The North Carolina Back to Work Jobs Tour included stops in communities across North Carolina. Hagan met with small business owners, workers, veterans, manufacturers, workforce development officers, community college administrators and others to gain input and feedback about concrete steps that can put people back to work right now. The tour explored many aspects of the unemployment crisis, including a strong emphasis on job training and job readiness.
“With North Carolina’s outstanding community colleges and workforce training centers, it is unacceptable that middle-class families are struggling to make ends meet while employers are struggling to fill open jobs.," Hagain said. "I want to continue bringing together all the stakeholders—business owners, workforce training administrators, unemployed workers and veterans—so that we can get people back on the job. I want to connect job seekers and employers to the many resources and incentives of which they may not be aware.”
Hagan’s AMERICA Works Act encourages national industries—like construction, automotive and aerospace—to come together and agree on the skill sets necessary for employees. When the industries have agreed upon standards, curricula will be developed for training programs at community colleges that will offer industry-recognized credentials. When workers have earned an industry-recognized credential, they will be qualified for employment in any state. For more about the AMERICA Works Act, please click here.
Hagan began the tour in Scotland County, where unemployment stands at 16.6 percent—the highest of any county in North Carolina. She toured Service Thread Manufacturing, a textile company that employs approximately 75 people and manufactures industrial yarns and sewing threads, converted multifilament yarns and engineered specialty textile products.
“Jobs are my No. one priority,” said Hagan. “Everywhere I go in our state, unemployment is the issue I hear about from North Carolinians. I am launching my North Carolina Back to Work Jobs Tour to focus on action and ideas that will get unemployed North Carolinians back on the job as quickly as possible. With unemployment at almost 10 percent in our state, and as high as 16.6 percent in Scotland County, we don’t have a minute to waste in rolling up our sleeves to find commonsense, bipartisan solutions to get employment back on track.”
The North Carolina Back to Work Jobs Tour included stops in communities across North Carolina. Hagan met with small business owners, workers, veterans, manufacturers, workforce development officers, community college administrators and others to gain input and feedback about concrete steps that can put people back to work right now. The tour explored many aspects of the unemployment crisis, including a strong emphasis on job training and job readiness.
“With North Carolina’s outstanding community colleges and workforce training centers, it is unacceptable that middle-class families are struggling to make ends meet while employers are struggling to fill open jobs.," Hagain said. "I want to continue bringing together all the stakeholders—business owners, workforce training administrators, unemployed workers and veterans—so that we can get people back on the job. I want to connect job seekers and employers to the many resources and incentives of which they may not be aware.”
Hagan’s AMERICA Works Act encourages national industries—like construction, automotive and aerospace—to come together and agree on the skill sets necessary for employees. When the industries have agreed upon standards, curricula will be developed for training programs at community colleges that will offer industry-recognized credentials. When workers have earned an industry-recognized credential, they will be qualified for employment in any state. For more about the AMERICA Works Act, please click here.
Wednesday, February 8, 2012
Orange County Economic Development unveils new website
Orange County Economic Development launched its redesigned website—www.growinorangenc.com—offering a glimpse into the county’s renewed focus on economic development. The website is part of a strategic effort by the department to increase awareness of Orange County as a business location and provide the key types of information needed by businesses and site selection firms looking to expand or locate a business.
The website provides up-to-date information on the county’s three economic development districts targeted for commercial and industrial growth. The redesign also provides tools to allow users to search for available buildings and sites as well as current demographic data including labor force, wages, training availability and information on Orange County’s quality of place. With workforce skills and location being prime factors in the business site search process, the website showcases Orange County’s position along major transportation corridors and its proximity to several renowned research universities. Prospective investors can identify Orange County’s core positioning within the Research Triangle Region and the Research Triangle Park.
While www.growinorangenc.com officially launched the week of Jan. 30, the site will continue to grow and evolve. Future developments will include an interactive property search feature, videos showcasing local businesses and highlighting those economic development activities that will be funded by the quarter-cent sales tax recently approved by voters.
“Today’s business site selection process is more competitive than ever,” Steve Brantley, county economic development director, said. “The search increasingly begins on the Internet and includes much more than just looking at available properties; those involved in today’s business site searches are looking for a glimpse into the community—from demographics and work force availability to educational and cultural opportunities in the area. This website was developed to showcase the assets Orange County can offer as a prime business location.”
The website provides up-to-date information on the county’s three economic development districts targeted for commercial and industrial growth. The redesign also provides tools to allow users to search for available buildings and sites as well as current demographic data including labor force, wages, training availability and information on Orange County’s quality of place. With workforce skills and location being prime factors in the business site search process, the website showcases Orange County’s position along major transportation corridors and its proximity to several renowned research universities. Prospective investors can identify Orange County’s core positioning within the Research Triangle Region and the Research Triangle Park.
While www.growinorangenc.com officially launched the week of Jan. 30, the site will continue to grow and evolve. Future developments will include an interactive property search feature, videos showcasing local businesses and highlighting those economic development activities that will be funded by the quarter-cent sales tax recently approved by voters.
“Today’s business site selection process is more competitive than ever,” Steve Brantley, county economic development director, said. “The search increasingly begins on the Internet and includes much more than just looking at available properties; those involved in today’s business site searches are looking for a glimpse into the community—from demographics and work force availability to educational and cultural opportunities in the area. This website was developed to showcase the assets Orange County can offer as a prime business location.”
Friday, February 3, 2012
Chemical manufacturer to create 19 jobs in Caldwell County
Gov. Bev Perdue today announced that Lubrimetal Corporation, a member of the Lubrimetal family of companies, will locate a new facility in Caldwell County. The company plans to create 19 jobs and invest $1.9 million over the next three years in Granite Falls. The project was made possible in part by a $38,000 grant from the One North Carolina Fund.
“My top priority is creating jobs,” Gov. Perdue said. “Our history of investing in education and workforce and job training programs has created a strong business climate where manufacturers can thrive in a global market. We must get back to supporting these programs so that more companies like Lubrimetal will move to or expand in North Carolina.”
Lubrimetal, an Italian-owned family company founded in 1959, is a leading producer of lubricants for the wire drawing industry. The company plans to develop a manufacturing facility for the production of wet and dry lubricants for the drawing of steel and non-ferrous wires. The new facility will allow Lubrimetal to meet growing market demand in North America.
Salaries will vary by job function, but the average annual wage for the new jobs will be $41,316, plus benefits. The Caldwell County average annual wage is $29,796.
For more information about Lubimetal, including job opportunities, go to www.lubrimetal.com.
“The creation of a new factory in the United States has been an important part of our global strategy,” said Giorgio Corso, executive vice president of Lubrimetal Corporation. “All the partners involved have worked tirelessly to help make our decision easier. These people should be commended for their work to bring jobs to the people of Caldwell County. I believe we have made the right decision to locate here and that there is a very strong future for Lubrimetal Corporation and the people of the community we are proud to be joining.”
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.
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
Through use of the One NC Fund, more than 60,000 jobs and $11 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Caldwell County, the Town of Granite Falls, N. C. Rural Economic Development Center and Caldwell Economic Development Commission.
“My top priority is creating jobs,” Gov. Perdue said. “Our history of investing in education and workforce and job training programs has created a strong business climate where manufacturers can thrive in a global market. We must get back to supporting these programs so that more companies like Lubrimetal will move to or expand in North Carolina.”
Lubrimetal, an Italian-owned family company founded in 1959, is a leading producer of lubricants for the wire drawing industry. The company plans to develop a manufacturing facility for the production of wet and dry lubricants for the drawing of steel and non-ferrous wires. The new facility will allow Lubrimetal to meet growing market demand in North America.
Salaries will vary by job function, but the average annual wage for the new jobs will be $41,316, plus benefits. The Caldwell County average annual wage is $29,796.
For more information about Lubimetal, including job opportunities, go to www.lubrimetal.com.
“The creation of a new factory in the United States has been an important part of our global strategy,” said Giorgio Corso, executive vice president of Lubrimetal Corporation. “All the partners involved have worked tirelessly to help make our decision easier. These people should be commended for their work to bring jobs to the people of Caldwell County. I believe we have made the right decision to locate here and that there is a very strong future for Lubrimetal Corporation and the people of the community we are proud to be joining.”
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.
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
Through use of the One NC Fund, more than 60,000 jobs and $11 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Caldwell County, the Town of Granite Falls, N. C. Rural Economic Development Center and Caldwell Economic Development Commission.
Saturday, March 19, 2011
Hagan votes to support small business
U.S. Senator Kay R. Hagan, a member of the Senate Small Business Committee, voted for a long-term extension of two successful programs that give small businesses opportunities to participate in federal research and development. In a key procedural vote, the Senate voted 84-12 to reauthorize the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, both under the Small Business Administration, for the next eight years. The programs are set to expire on May 31.
In 2009, North Carolina companies won a total of 94 SBIR/STTR awards totaling $55 million, a 43 percent increase over 2007.
“By extending these successful programs for an eight-year period, our North Carolina small business entrepreneurs will have the certainty they need to continue to produce innovative research, expand their companies and add jobs,” Hagan said. “Small businesses remain the key to our economic recovery in North Carolina, and I have long been an advocate for these programs that allow our smaller companies to participate in high-level research and the development of next generation technologies. Given today’s overwhelming bipartisan support for these programs, I look forward to quickly passing this bill in the Senate and getting it to the President’ desk as soon as possible.”
The SBIR program designates resources to increase the participation of small, innovative companies in federally funded research and development. Similarly, the STTR program provides federal funding for small firms to work jointly with non-profit research institutions, such as research and development centers, universities, university-affiliated hospitals, and other non-profits.
In 2009, North Carolina companies won a total of 94 SBIR/STTR awards totaling $55 million, a 43 percent increase over 2007.
“By extending these successful programs for an eight-year period, our North Carolina small business entrepreneurs will have the certainty they need to continue to produce innovative research, expand their companies and add jobs,” Hagan said. “Small businesses remain the key to our economic recovery in North Carolina, and I have long been an advocate for these programs that allow our smaller companies to participate in high-level research and the development of next generation technologies. Given today’s overwhelming bipartisan support for these programs, I look forward to quickly passing this bill in the Senate and getting it to the President’ desk as soon as possible.”
The SBIR program designates resources to increase the participation of small, innovative companies in federally funded research and development. Similarly, the STTR program provides federal funding for small firms to work jointly with non-profit research institutions, such as research and development centers, universities, university-affiliated hospitals, and other non-profits.
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