April 24, 2018  Twitter  Facebook  LinkedIn   Email the Editor

Financial Tech Company to Add 250 New Jobs in Wake County

Ipreo, a global provider of financial services, technology, data and analytics, will add 250 jobs over the next four years in Wake County, Governor Roy Cooper announced today (April 24). The company will invest $2.1 million with this project.

"North Carolina is home to financial services and tech companies that are leaders in their industries and partners to their communities," said Governor Cooper. "Ipreo is expanding in Wake County because they know that the talent, world-class universities and research institutions and strong business climate in North Carolina are unmatched."

Ipreo's services support the capital-raising process for all market participants, including sell-side banks, public and private companies, buy-side investors, and research, asset management and wealth management firms. The company's US headcount has doubled since 2013 with one third of its US workforce located in North Carolina. With this expansion, the company will focus on its financial software, capital markets intelligence and real-time data and analysis products.

"Over the past five years, Ipreo's operations in North Carolina have become an important element of our global business," said O'Hara Macken, EVP of Global Infrastructure and head of Ipreo's North Carolina operations. "This region offers a talented and innovative workforce, a strong university system, and a collaborative business environment. We are pleased to be an active and engaged member of this community and are committed to continued growth here."

"Ipreo has achieved significant growth since coming to Wake County in 2013, and I trust this success will continue," said North Carolina Commerce Secretary Anthony M. Copeland. "Ipreo is committed to providing training and fulfilling opportunities for their employees and will bring 250 new opportunities to Wake County and the surrounding area."

Once all positions are filled, the average salary will be $66,720, which is higher than the current average salary in Wake County of $56,244.

Earlier today, Ipreo was awarded a Job Development Investment Grant (JDIG) with a 12-year term. The JDIG agreement authorizes the potential reimbursement to the company of up to $2,085,000, spread over those 12 years. The project will grow the state's economy by an estimated $549 million.

Because Ipreo chose to expand in Wake County, the company's JDIG also calls for moving nearly $695,000 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 3 county such as Wake, the new tax revenue generated through JDIG grants helps more economically challenged communities anywhere in the state.

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, Wake County, the City of Raleigh, and Wake County Economic Development.

Read more.


50 New Jobs Coming as Payment Tech Company Expands in Forsyth County

The Clearing House Payments Company, a financial payments company, will expand in Winston-Salem and create 50 new jobs there, Governor Roy Cooper announced April 12. The company will invest $24.6 million in this expansion.

"The financial services industry continues to thrive in North Carolina, and we have some of the top talent in the nation thanks to our strong colleges and universities," said Governor Roy Cooper. "The Clearing House knows the quality of our workforce first hand, and I welcome the new opportunities this expansion will bring."

The Clearing House Payments Company owns and operates core payments system infrastructure in the United States and is modernizing that infrastructure by launching a new, real-time payment system. The Clearing House is the only private-sector automated clearing house and wire operator in the United States, clearing and settling nearly $2 trillion in U.S. dollar payments each day. This amount represents half of all commercial automated clearing house and wire volume.

"The Clearing House has been a member of the Winston-Salem community since we opened our North Carolina facility a decade ago. We are proud of our presence here, see the Piedmont Triad as a superb environment in which to operate and our employees find the area to be a great place to live and work," said Jim Aramanda, TCH President and CEO. "We are also confident that North Carolina's tremendous university system, the presence of a robust financial services industry and a pro-growth economic landscape create an environment well-suited for us to recruit the quality candidates that we need to succeed in our mission of payments system innovation and operation."

The Clearing House currently employs more than 170 people in Forsyth County. These individuals have positions in technology, operations, sales, legal, human resources and other departments. Salaries for new positions will vary with an average salary of $95,560. The current average wage in Forsyth County is $51,131.

"The Clearing House is bringing high-wage technology jobs and will partner with Forsyth County's education system to invest in the area's tech workforce," said North Carolina Commerce Secretary Anthony M. Copeland. "Since The Clearing House has been here in North Carolina, they know we have the talent and education system to help them succeed."

A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate The Clearing House's expansion in North Carolina.

In addition to North Carolina Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the City of Winston-Salem, Forsyth County, and the Greater Winston-Salem Chamber of Commerce.

Read more.


(L-R) N.C. State's Tom White, LEAD's Jeff DeBellis, Director of Economic & Policy Analysis; Jackie Keener, Assistant Secretary of Policy, Research & Strategy; Betty McGrath, Director of BLS Programs; and N.C. State's Leslie Boney, vice provost for Outreach & Engagement

Commerce's LEAD Team Wins Honor from N.C. State

Commerce's Labor & Economic Analysis Division, known affectionately around the state as Commerce's 'LEAD' team, has won the 2018 Economic Development Partnership Award from North Carolina State University's Office of Outreach & Engagement. The awards celebration was held Wednesday, April 11.

In total, fifteen faculty and staff members were recognized for their commitment to teaching, research and public service. The awards showcase people or organizations who work with community partners to fulfill N.C. State's land-grant mission and to make knowledge more accessible to others.

LEAD is a one-stop source and leading provider of labor and economic information for the state of North Carolina. With a staff of researchers, economists, statisticians, and policy analysts, LEAD administers and collects data, conducts research, and produces a wide variety of reports and publications. Explore the team's offerings at nccommerce.com/lead.


A widely respected national conference for manufacturing will be held in Raleigh this coming May and SYNC readers are in line to receive a discount for the three-day event.

IndustryWeek, the national trade magazine published by Penton Media, will convene The IndustryWeek Manufacturing & Technology Conference & Expo May 8-10 at the Raleigh Convention Center.

The M&T Show is designed to provide manufacturers with proven, actionable approaches that help solve problems and capitalize on new opportunities. Attendees will be able to meet and network with the manufacturing leaders and experts who have pioneered the next-generation strategies to:

  • Adapt the latest digital technologies
  • Solve workforce recruiting, retention and engagement challenges
  • Learn and perfect the latest leadership best practices
  • Kick-start or deepen your lean/continuous improvement initiatives

For information on the conference discount available for SYNC readers, contact the editor.

 

List of Potential North Carolina Opportunity Zones Submitted to the U.S. Treasury

The State of North Carolina has recommended to the Unites States Treasury that 252 areas in the state be certified as Opportunity Zones, potentially opening a new source of investment capital for regions of the state that need it the most. The state submitted its recommendations on Friday, April 20 and final certification from the federal government is expected later this year.

"We're optimistic that the Opportunity Zones program will attract new investments for our most distressed rural and urban areas," said N.C. Commerce Secretary Anthony M. Copeland. "These investments will lead to new jobs, development of more affordable housing, and other economic benefits."

Recently passed federal legislation, known as The Tax Cuts and Jobs Act (H.R.1), created the Opportunity Zone program and authorized each state to designate up to 25 percent of its total low-income census tracts as qualified Opportunity Zones. The legislation creates a tax break for qualified investors who wish to re-invest unrealized capital gains, avoiding standard capital gain tax obligations.

Since February, N.C. Commerce has been coordinating the state's multi-phase and collaborative approach to identify which areas to nominate for federal consideration. Guided by data and driven by local priorities, the process has included an extensive review of census data, public input collected from the Department's website and direct outreach, and close collaboration with local officials from across the state.

Commerce has published a website where you can learn more about the selection process and review the candidate zones that were submitted to the Treasury. Visit public.nccommerce.com/oz.


Manufacturer to Add New Products & 19 Jobs in Anson County Expansion

A leading designer, manufacturer and marketer of material handling products, technologies and services will expand operations in Wadesboro. Columbus McKinnon Corporation will create 19 jobs, Governor Roy Cooper announced April 19. The company plans to invest $5.4 million in its Anson County facilities, enabling the introduction of its STAHL line of crane products into the North American market.

"Columbus McKinnon is a global company which can make its products anywhere in the world," said Governor Cooper. "The company's decision to expand in North Carolina proves that our state can compete with the best locations available, and offers global manufacturers everything they need to be successful."

Columbus McKinnon, with headquarters in Getzville, New York, enjoys a rich 140-year tradition of excellence providing products and services such as hoists, actuators, cranes, and lifting and rigging tools. Last year, the company completed its acquisition of STAHL CraneSystems, a well-known brand of hoists and crane components based in Germany. The Anson County expansion will position the company to manufacturer STAHL products in North Carolina, introducing the line directly into the North American market.

"North Carolina leads the Southeast in manufacturing, and companies like Columbus McKinnon understand why, as they have first-hand knowledge of the advantages we offer as a business location," said Commerce Secretary Anthony M. Copeland. N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company's expansion decision.

The average wage of the new positions will be $49,897, which is above the Anson County average wage of $32,594.

A performance-based grant of $60,000 from the One North Carolina Fund will help facilitate Columbus McKinnon's expansion in Anson County.

In addition to North Carolina Commerce and the Economic Development Partnership of North Carolina, other key parters on this project include the North Carolina General Assembly, the North Carolina Community College System, Anson County, the Town of Wadesboro, and the Anson Economic Development Partnership.

Read more.


Rural Communities Receive $6.5 Million in Grants, Attracting 1,495 New Jobs

The North Carolina Rural Infrastructure Authority (RIA) approved 16 grant requests totaling $6,553,500 at its April 19 board meeting. The requests include commitments to create a total of 1,729 jobs, 234 of which were previously announced. The public investment in these projects will attract more than $214 million in private investment.

"Communities need infrastructure such as buildings, water and sewer, and ready sites to attract business," said N.C. Commerce Secretary Tony Copeland in a statement released last Thursday. "The grants the Rural Infrastructure Authority approved today will help rural communities secure economic development projects and bring jobs to their area."

"The Rural Infrastructure Authority Board and the Rural Economic Development Division work closely to identify ways to help our rural communities prepare to attract jobs and investment," said Commerce Assistant Secretary for Rural Economic Development Kenny Flowers. "The funds granted today will bring more than 1,400 new opportunities to individuals and families that need them."

Details on each of the RIA awarded projects is available online.


RTP Site Leader for Credit Suisse Jim Captain (left) with Governor Cooper at the company's groundbreaking ceremony held April 17.

Gov. Cooper Keynotes Credit Suisse Groundbreaking Ceremony

Governor Roy Cooper delivered keynote remarks last week (April 17) at a special ceremony to break ground for the latest expansion of Credit Suisse's North Carolina operations. More than 120 Credit Suisse senior executives and local officials attended the event, held at the company's facilities in Morrisville.

Last May, Governor Cooper announced the company would expand its operations in Research Triangle Park and create an additional 1,200 jobs.

Credit Suisse's Triangle presence was established in 2004, following its commitment to relocate 400 positions from the New York City area to Research Triangle Park. Over the last decade, Credit Suisse's North Carolina workforce has grown to over 1,500 employees.


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SYNC is North Carolina Commerce's electronic newsletter for local government officials, private-sector allies, state policy makers, and other economic development leaders. We offer unfiltered details about new economic development projects and events, useful news about your peers, and opportunities to synchronize with statewide programs and tools in order to advance economic development in your community. Send your story ideas to the editor.

 

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