RALEIGH, N.C. (WNCN) — For months, there has been speculation of a major jobs announcement coming to Wake County. It’s no longer speculation.
Credit Suisse, a financial services company, announced it is bringing 1,200 jobs with average six-figure salaries to Wake County. Governor Roy Cooper helped make the announcement Tuesday.
“There are going to be a lot of people who are going to want these jobs and we want them to apply and we’re getting ready to take off,” said Cooper.
Company administrators said they will look to hire people to fill operations jobs, including support for their traders and bankers in New York, as well as IT positions.
Credit Suisse is expanding its RTP operations. The company will invest more than $70 million to make that expansion happen.
Company executives said some of those will be transfers and some will be new hires — though they have not said how many will be new hires.
“This is a pretty big commitment of us,” said Wilson Ervin, Credit Suisse Vice Chairman.
Company leaders also spoke several times at the announcement of the expansion about inclusion.
“Our workforce is going to be expanding and we need to have a very high focus in terms of our recruiting, diversity, inclusion,” said Dan Seabolt, Credit Suisse Managing Director.
Executives said their company opposed House Bill 2 and halted the company’s expansion plans while it was on the books.
They said when the law was repealed it re-established their minimum conditions to expand in North Carolina. Company leaders said the repeal deal is not perfect, but is a first step forward.
“It was something that some of the other big organizations that were looking at the state, the conclusion they came to also,” said Ervin. “So, for us, it showed to us that North Carolina was on the right path.”
Local leaders are excited about what the announcement will mean for Wake County. On salaries alone, it’s expected to represent more than $100 million a year over the next 10 years.
“Oh, it’s fantastic,” said Wake County Commission Chair Sig Hutchinson. “The fact that they can find people who can basically work in six-figure jobs speaks to the level of talent that we have in this region.”
The state did approve a Job Development Investment Grant, or JDIG, to help facilitate the expansion. The company is eligible to get more than $40 million in reimbursements over 12 years.
“Incentives and tax are definitely a huge part of this,” said N.C. Commerce Secretary Tony Copeland. “Property taxes are low. The Job Development Investment Grant was a critical piece of this.”