Economic Development June Recap

Featured Project:  

Cisco Systems, Inc. | Research Triangle Park | Software/IT | Expanding
Cisco Systems, Inc., an American multinational corporation that designs, manufactures, and sells networking equipment, announced it is expanding its workforce in the Research Triangle Park----adding 550 new jobs. The company plans to hire a mix of finance, operations, and advanced network services personnel over the next four years. Compensation for the new positions will vary by job function, but the average annual salary will be at least $72,700 plus benefits. Cisco has one of its largest presences at its RTP campus with more than 5,000 employees. The company has long seen RTP and Wake County as critical to the success of the company----Cisco hires more engineers from NC State University than from any other university. 

Wake County Economic Development partnered with the NC Department of Commerce, Wake Tech, and Capital Area Workforce Development to assist with this project. Capital Area Workforce Development Board and Wake Tech will provide training assistance to Cisco as they move to quickly hire. WCED, through the Work in the Triangle initiative, will support Cisco's efforts to hire new employees and recruit employees to the area. 

To learn more about Cisco's expansion in the Research Triangle Park, read the full story.

New & Expanding Companies:   

Advanced Auto Parts | Raleigh | Automotive Retailer | New
Advanced Auto Parts, an automotive replacement parts retailer, is opening a corporate support center in Raleigh and plans to create 600 jobs by the end of 2017 and invest more than $5 million. The positions based in the Raleigh Support Center include corporate functions related to merchandising, marketing, supply chain, and commercial sales. Compensation for the new positions will vary by job function, but the average total compensation will be approximately $110,000 plus benefits. In January 2014, Advance Auto Parts completed its acquisition of General Parts International, Inc., which had its corporate headquarters in Raleigh.

Centrifuge Media | Raleigh | Media Production | Expanding
Centrifuge Media, a full service meeting technology production agency, is building a new 10,000-square-foot office in Raleigh. The company specializes in audiovisual production, design and print services, and technical consulting, primarily in the pharmaceutical industry. Since 2008, Centrifuge Media has nearly doubled its staff in the Triangle to 24 employees. Construction is expected to be completed in February 2015. 

Huron Consulting Group | Morrisville | Legal | Expanding
Huron Consulting Group, a consulting firm, is expanding its document review center in Morrisville by leasing an additional 9,000 square feet and employing 70 additional contract lawyers. The Morrisville document review center is one of seven in North America operated by Huron Legal, a division of Huron Consulting that helps law firms and departments to operate more efficiently.

Ranpak Corp. | Raleigh | Software/IT | Expanding
Ranpak Corp., a manufacturer of "in-the-box" protective paper packaging materials and systems, is expanding in Raleigh with the lease of a 60,000 square foot building at the 540 North distribution center on Capital Boulevard. Ranpak recently acquired Geami, a Raleigh-based packaging company and will relocate and consolidate its operations at the facility.

RevGen | Raleigh | Software/IT | New
RevGen, a sales and marketing company, is a new company in Raleigh that already has 11 employees and plans to have 20 by September. RevGen works with technology-based companies, including Citrix, to generate sales leads.

Sensus | Raleigh | Smart Grid/Cleantech | Expanding
Sensus, a clean technology solutions company, is hiring for 30 technology positions in Raleigh. Sensus is an important company in Wake County's globally renowned smart grid cluster. The company offers smart meters, communication systems, software, and services for the electric, gas, and water industries. Sensus is hiring senior software analytics engineers, senior software managers in data analytics, and entry-level software development engineers.

Stockton Graham & Co. | Raleigh | Beverage | Expanding
Stockton Graham & Co., a specialty coffee roaster and wholesale beverage, equipment, and accessory distributor, is adding three to five employees in Raleigh. The company's customers range from independent coffee shops to coffee and espresso gourmet bars, as well as product distributors, small roasters, and specialty beverage distributors. Stockton Graham & Co. recently completed its acquisition of Eurocafé Imports Southeast in Charlotte.

Tyton BioEnergy Systems | Raleigh | Biotech/Pharma | New
Tyton BioEnergy Systems, a biofuel company, is planning to hire 20 employees for an operation in Wake County. The operation in Wake County will support its new biorefinery in Hoke County as part of its strategy to convert its proprietary tobacco, to be grown regionally, into ethanol. Tyton BioEnergy Systems has developed a special energy tobacco plant that is a dedicated non-food fuel crop. Over the next five years, the company will work to grow its energy tobacco and establish local rural processing facilities.

Zurn Industries | Cary | Manufacturing | New
Zurn Industries, a plumbing products company, is opening an Innovation Center at 3700 Regency Parkway in Cary. The 17,000-square-foot center will facilitate testing, quality control, product technology, and system innovations. Zurn manufactures engineered water solutions in commercial, municipal, and industrial markets, including a wide spectrum of sustainable plumbing products.

New and Expanding Announcements by Cluster (Since January 2014): 

Since the beginning of 2014, Wake County has had 46 new and expanding announcements. Of those announcements, 28 (61 percent) are in Wake County Economic Development's cluster industries.  

Wake County Municipality Highlight: Wendell

Wendell, population 6,135, has a motto of "Small Town, Big Charm." The town was incorporated in 1903 and named after Oliver Wendell Holmes, a local schoolteacher's favorite poet. It maintains small town charm while offering a high quality of life for its residents. Residents and businesses enjoy a 100-acre park and community center with top class youth athletic programs as well as first class police and fire protection. Downtown Wendell is also home to three anchor merchants: Kannon's Clothing, Mortex Apparel Outlet, and Perry's Gun Shop. Wendell is ideally situated along U.S. Highways 264 and 64 (future I-495) and is only 20 minutes from downtown Raleigh and 30 minutes from I-95. Wendell has a growing industrial, commercial, and residential tax base and is a great place to live, work, and play. Please visit Wendell if you are considering locating your business to Wake County.

Recent News and Events:    

Biotech Reputation Touted at National Convention

Wake County Economic Development traveled to the annual BIO International Convention, Trade Show, and Career Fair to promote Wake County and the Triangle as the top place for the biotech industry, innovation, and talent. The BIO International Convention is the largest global event for the biotechnology industry with more than 1,700 exhibitors. WCED also participated in the BIO Career Fair as a great way to attract and meet face-to-face with top talent in the life sciences industry. WCED promoted Raleigh, Wake County and Triangle's rapidly expanding biotechnology industry, and concentration of key biotechnology companies and skilled talent to life sciences companies and job seekers interested in the area. An additional focus was placed on promoting the jobs available in the Triangle to continue the recruitment efforts of our talent attraction initiative, Work in the Triangle, Smarter from Any Angle. Co-located with the 2014 BIO International Convention, the BIO Career Fair was the perfect time to scout the industry's leading talent as attendees from around the world gathered for the Convention. "Wake County and the Research Triangle have a strong reputation as a global leader in life sciences and biotech innovation among the domestic and international attendees," said Michael Haley, director of director of Business Recruitment and Expansion for WCED. "Participation in the convention provided valuable opportunities to network and identify possible opportunities for future economic development activities within this particular industry cluster." WCED exhibited as part of the NC pavilion, along with the North Carolina Biotechnology Center, to promote the county's business climate, talent, university resources, concentration of biotech companies, and more. The city of Raleigh, the towns of Garner and Holly Springs, the North Carolina Department of Commerce, and several local life science companies also participated. 

Wake County Economic Development Announces Staff Promotion

Michael Haley has been promoted to director of Business Recruitment and Expansion for Wake County Economic Development. Haley has done a tremendous job during his four years at the Chamber, leading several projects, including MetLife and Cisco, spearheading the efforts around our Smart Grid Cluster, travelling to tradeshows and industry events to showcase Raleigh and Wake County nationally and internationally, and leading the Chamber's involvement in the Chambers for Innovation project. We are excited about the opportunities ahead for our team under Haley's leadership. "I look forward to assisting local businesses as they grow, growing partnerships with our allies, and telling people around the world that Wake County is the Smart Choice!" Haley said. Haley will lead the Project and Research Team including a project manager; Research Manager Kelly Maness; and Research Assistant Austin Rouse.

Recent Rankings:  

 For a full list of rankings, please download the Raleigh/Wake County Rankings Flyer.

• #2 Best City for a Job This Summer (Raleigh, NC) Forbes 
• #2 Fastest Growing Large Metro through 2020 (Raleigh, NC) U.S. Conference of Mayors 
• #3 Least Stressed Out City (Raleigh, NC) CNN Money 
• #4 Life Science Cluster in the U.S. (Raleigh-Durham, NC) Jones Lang LaSalle
• #5 Best City to Raise Children (Raleigh, NC) MyLife.com 
• #7 American Dream City (Raleigh-Cary, NC) The Burghard Group 
• #8 City for Female Entrepreneurs (Raleigh, NC) Intuit
• #8 City for Technology Careers (Raleigh, NC) CIO.com

Year-to-date Metrics:

Since Jan. 1, 2014, Wake County Economic Development has had 48 new projects and 20 site visits. Wake County has had 46 announcements of companies moving or expanding to the area, creating 2,557 jobs and investing more than $347 million.

Wake County Labor Market Statistics: