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HCL Technologies to invest $9 million on North Carolina centre

Published Date: 
Sep 18, 2014
Source: 
Economic Times

NEW YORK: India's fourth largest software services firm HCL Technologies will expand its centre in North Carolina with an investment of $ 9 million, creating up to 1,237 new jobs by the end of 2018.

HCL Technologies, which has over 8,000 people working across 15 states in the US, employs close to 1,000 people at the Cary Centre in North Carolina.

Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker today made the announcement at the centre.

"HCL sees Cary as a strategic talent hub in the Americas and will invest approximately $ 9 million in expanding the centre. The company continues to invest in its global delivery footprint in order to enhance value for its clients by developing nearshore capabilities," HCL Technologies Chief Human Resources Officer Prithvi Shergill told PTI.

The hirings will be a mix of local as well as external professionals, he added.

HCL's business in America contributes more than 50 per cent of the firm's global revenues.

In 2013-14 fiscal, its revenue stood at Rs 16,497.37 crore.

The firm also has partnerships with North Carolina New Schools for STEM related initiatives to leverage HCL's services for content creation and management of its collaborative online community.

HCL will hire computer professionals to develop, maintain and upgrade software applications and provide services to global clients. Salaries will vary by job function and experience, but the average annual payroll for the new jobs is expected to be nearly $ 64 million.

The expansion comes as part of an award to HCL from the state Job Development Investment Grant (JDIG) programme, which are awarded to new and expanding businesses and industrial projects in the region.

Under the terms of the company's JDIG award, HCL is eligible to receive up to 12 annual grants equal to 75 per cent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award.

"Over 12 years, the JDIG award could yield aggregate benefits to HCL of more than $ 19.6 million upon the creation of 1,237 jobs," he said.

An estimated $ 6.5 million in additional funds from the company's JDIG award could be added to the state's Utility Fund for infrastructure improvements in economically distressed counties, he said.

 

Source: 
Economic Times
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HCL Technologies Ltd.
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