TechTaffy

tech:

taffy

NetApp To Create 460 Jobs In Wake County, NC

By TechTaffy Desk

[Techtaffy Newsdesk]

NetApp will expand its Wake County operations. The company plans to create 460 new jobs over four years and invest more than $75 million into a new R & D facility in Research Triangle Park. The project was made possible in part by a state grant from the Job Development Investment Grant.

The new RTP data center will leverage the latest virtualization solutions to build a private cloud environment to provide virtual access for NetApp engineering labs around the world. It will also serve as a model for customers interested in building energy-efficient dynamic data centers and cloud environments for their enterprise users.

Compensation will vary by job function, but the average annual compensation for the new positions will be approximately $100,000, plus benefits. The average annual wage in Wake County is $45,396.

The North Carolina Economic Investment Committee voted to award a Job Development Investment Grant (JDIG) to NetApp.  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 JDIG, the company is eligible to receive a grant equal to 65 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 NetApp meets the targets called for under the agreement and sustains them for 10 years, the JDIG could yield as much as $11.78 million in maximum benefits for the company.

In addition, up to $3.92 million could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in the state’s more economically prosperous counties such as Wake, 25 percent of the grant is allocated to the Utility Fund to encourage economic development in less prosperous counties.

Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Community Colleges, Research Triangle Park Foundation, Wake County, and Duke Energy.

Upload: 12-14-12

Just in

Around the web

TikTok and its Chinese owner sue US government over “foreign adversary” law — Ars Technica

TikTok and its owner ByteDance today sued the federal government to block the "Foreign Adversary Controlled Applications" law that would prohibit TikTok in the US if the company isn't sold to a non-Chinese firm, writes Jon Brodkin in Ars Technica. 
Fundings

Wiz raises $1B

Cloud security company Wiz has raised $1 billion in a funding round.
Fundings

Augment raises $227M 

Palo Alto, Calif.-based Augment, an AI coding assistance startup, has emerged from stealth with the announcement of a $227 million Series B funding round.
Fundings

Dropzone AI raises $16.85M

Dropzone AI, a company that delivers pre-trained autonomous AI analysts that work alongside human analysts on security operations teams, has raised $16.85 million in a Series A funding round.
IT

Akamai to acquire Noname Security for $450M

Akamai Technologies has entered into an agreement to acquire San Jose, California-based, privately-funded API security company Noname Security, for approximately $450 million.