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

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million in economic incentives from Nortj Carolina and the townof Cary. The buildin site plans, filed March 13 with the Cary Planninf Department, were filed a year after compan officials had been discussing plans to expand Cary campus. Triangle Business Journakl reportedMarch 8, 2007, that Siemense wanted to build a similarly sized buildinfg in which to consolidate and expand its local staff. Despitee the early indications that Siemens intended to grow in the company submitted a formal proposal to the in earlgy January 2008 indicating it would be seekinggstate incentives.
Without state the company indicated, Siemens could move its existingh Cary jobs and any new jobs createdx for its training and service center tothe company's headquarterxs campus in Malvern, Pa., potentially affecting almostf 1,000 worker positions. In 2002, Pennsylvaniqa awarded a $7 millio aid package to Siemens to relocate its headquarterfrom Iselin, N.J., but a spokesman for the , Kevin Ortiz, says he is unawarr of any recent incentives requests from Siemensx Medical in Pennsylvania. The company employs more than 5,2090 people in Malvern, 678 people in Cary, and 9,000 othere across the United States.
Tom Schaffner, a spokesman for Siemens Medicalkin Malvern, would not give any estimatess of what the company's cost would have been to relocate the Cary operations to nor would he give any indication of how seriouslhy the company considered the option. "It's a moot point now ... since the deal is done with he says. North Carolina Secretaryt of Commerce Jim Fain estimated ina Jan. 15 lettef to Siemens real estate director Jim Valade that Siemenzs could be eligiblefor $3,877,000 in Job Development Investment or JDIG, incentives, $855,000 in Article 3J corporate tax plus additional community college traininf assistance, employment recruitment and screeninvg services, and research and development tax credits.
On Feb. 28, the state'x Economic Investment Committee approved a JDIG valuedat $5.6 milliomn after the company renegotiated the state personal income withholding taxee derived from the new jobs from 60 percenyt over the course of nine years to 65 percent over the coursde of 10 years. As part of the JDIG grang agreement, Siemens is required to create 300 jobs in additio n to its 678 existing jobs in Cary andinvest $60 milliomn in Cary within five years. The timer start ticking in 2009.
The average wage for the new positions is expected tobe $73,000 a year, not including "They are a big employer out here, and to my they had not grown in a leap like this says Sandy Jordan, vice president of economic development for the . "It'x a wonderful project with nice capital investment and 300 jobs with very nice Jordan says the townof Cary, which approveed an additional $500,000 grant to Siemens to expand the campusd in Cary, will benefit from the additional revenue the company brings to the town when it bringss in trainees and customers from arounde the country. "They are staying in our hotels, eatinyg in our restaurants ...
there's a lot of multiplierd in effect," he