The governor on Monday announced that a leading technology company will be moving a technology hub to the state Research Triangle Park (RTP), creating 200 jobs and investing $2.7 million into the region.
Conduent Incorporated is the world’s largest provider of diversified business services, and will be moving the technology hub to Morrisville, in Wake County. The company is a provider of diversified business services.
“North Carolina offers a deep pool of talented workers that attracts global technology companies,” Governor Roy Cooper said. “Conduent’s decision to select the Research Triangle is the latest example of how investing in a highly-skilled, educated workforce pays off for North Carolina.”
Conduent Inc. formed in 2016 after splitting off from Xerox, and is headquartered in Florham Park, New Jersey.
The company provides services for transaction processing, automation and analytics.
Cooper said that the company provides services to millions every day, including two-thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily.
Conduent’s clients include 76 companies from the Fortune 100.
Cooper said the new operation in Wake County will drive several leading-edge focus areas for the company, including data modeling and machine learning, artificial intelligence, and sensor technologies. North Carolina’s pool of talented workers in these areas helped influence the company’s decision to locate in the state.
“Given Conduent has a strong relationship in North Carolina already – with more employees here than any other state – opening a new global technology and innovation hub in the heart of the Research Triangle is the right move for our clients and our people,” Conduit Chief Executive Officer Ashok Vemuri said. “We are honored to have the support of Gov. Cooper to enrich the area’s labor market and economy all while creating all-new and innovative solutions for the world’s best businesses.”
Conduent will add a variety of job functions at the new site, including research scientists, software developers, information technology, corporate finance, legal, and human resources positions.
According to the governor’s office, salaries will vary by position, the average wage across all positions will be $100,000, which is higher than the current Wake County average wage of $53,783.
The expansion is being supported in part by up to $2.1 million from the state Job Development Investment Grant (JDIG) program.
Conduent has been authorized to have the money reimbursed over a 12-year period, in which the state expects Conduent to grow the economy by an estimated $344 million.
The reimbursement payments from the state only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
According to the release JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
“It’s exciting to see a fast-growing company like Conduent select Wake County,” Sen. Jay Chaudhuri (D-Wake), said. “Everyone in our community welcomes this global company to our Research Triangle, which further cements our reputation as the home of innovation.”
Cooper said that the North Carolina Department of Commerce and the Economic Development Partnership of NC (EDPNC) led the state’s support for the company’s expansion.
Partnering with the Department of Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, Wake Tech, the Capital Area Workforce Development Board, the Town of Morrisville, Wake County, the Morrisville Chamber of Commerce, and Wake County Economic Development.