RTP: Cisco to add 550 jobs by 2017 - WSPA.com

Cisco to add 550 jobs in RTP

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RESEARCH TRIANGLE PARK, N.C. -

Cisco will expand its workforce in the Triangle by 550 new jobs by the end of 2017, the company and Gov. Pat McCrory said in an announcement Friday morning.

“Cisco has long been a strategic and valued partner of our great state,” said McCrory. “With more than 4,600 full time employees already spread throughout North Carolina, we are proud to have Cisco expand its presence. These new jobs will support innovation, add to a strong base of tech-savvy workers and strengthen the Triangle’s economy.”

Cisco is a world leader in networking. Founded in San Jose, Calif., in 1984, Cisco does business in more than 165 countries and employs more than 74,000 individuals.

Cisco pioneered the Internet Protocol (IP)-based networking technology. Cisco ranks 55th on the 2014 Fortune 500 companies list with a market capitalization of more than $115 billion.

“For more than 20 years we have been dedicated to contributing to North Carolina’s economy and investing in the local community,” said Gary Moore, Cisco president and chief operating officer. “By expanding our presence and hiring the best talent, we will continue developing technology solutions that will enable the Internet of Everything and fuel innovation here in RTP.”

Cisco plans to hire a mix of finance, operations and advanced network services personnel over the next four years, the state said in a news release. The average annual salary will be at least $72,700 plus benefits in each year of the grant. The average annual wage in Wake County is $49,410, the state said.

The state said the project was made possible in part by an award to Cisco from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements.

Under the terms of the company’s JDIG award, Cisco is eligible to receive up to 12 annual grants based on 75 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award, the state said.

Copyright 2014 WNCN. All rights reserved.

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