GOV. EASLEY ANNOUNCES CREATION OF 185 JOBS IN MECKLENBURG COUNTY
JDIG Helps Tessera Technologies Grow in Charlotte
RALEIGH – Gov. Mike Easley today announced that Tessera Technologies Inc., a leading provider of micro-electronics technology, will expand in Mecklenburg County. The company expects to add 185 jobs and invest $30 million at its Charlotte facilities during the next five years. The project was made possible in part by a Job Development Investment Grant.
“A key part of our economic strategy is to attract knowledge-based industries such as Tessera to expand in our state,” said Easley. “We are providing the trained, educated workforce that technology companies demand, and the high quality of life and good jobs that workers deserve.”
Since 1990, Tessera has been developing technologies to meet market demands for smaller, higher-performing electronic products at lower cost. The company’s technologies can be found in a wide variety of products including cellular phones, digital cameras, personal computers, gaming consoles, MP3 players, hearing implants and defense electronics.
Headquartered in San Jose, Ca., Tessera has facilities throughout Europe, Asia and the U.S, including approximately 100 workers at Charlotte’s University Research Park, which focus on wafer-level optics technologies used in camera phones. The 185 additional jobs will be mainly engineering positions that will pay an average of $72,800 a year, not including benefits. This is substantially higher than the Mecklenburg County annual average salary of $48,724.
“When we acquired Charlotte-based Digital Optics Corporation in 2006, our plan was to proliferate their wafer-level optics technologies into a broader range of applications that would impact people’s lives in tangible ways, and this expansion furthers that intention,” said Tessera Chairman, President and CEO Bruce McWilliams.
“After considering a number of possible sites, Kevin Drehmer, general manager of Tessera North America, convinced us that the city’s emerging technology base, cultural vibrancy and positive business climate made it the ideal choice for this expansion.”
“This latest investment in Charlotte is proof positive that our community can provide the on-site amenities that companies need, including skilled workers, information technology and access to transportation,” said State Sen. Malcolm Graham (D-Mecklenburg).
“Our success in the high-tech global marketplace, underscored by Tessera’s expansion, shows Mecklenburg County’s commitment to supply the local infrastructure and quality neighborhoods business leaders want,” said State Rep. Drew Saunders (D-Mecklenburg).
Other partners that assisted with this announcement include: The N.C. Department of Commerce, Mecklenburg County, the City of Charlotte, Charlotte Chamber of Commerce and Duke Energy.
The state’s Economic Investment Committee voted today to award a Job Development Investment Grant to the company to facilitate this project. This is the third JDIG awarded in 2008 and the 73rd since the program began in 2003.
Under terms of the nine-year agreement, the N.C. Department of Commerce estimates the project will:
- Generate a cumulative gross product value of $237.62 million.
- Produce a positive, cumulative net state revenue impact of about $3.17 million.
- Contribute up to $874,000 to the state’s Industrial Development Fund for infrastructure improvements in economically distressed areas of North Carolina. This contribution is required of grant recipients located in the state’s most prosperous counties, such as Mecklenburg.
For each year that the company meets the required performance targets, the state will provide a grant equal to 65 percent of the state personal income withholding taxes derived from the creation of new jobs. Should the company create the jobs called for under the agreement and sustain them for nine years, the agreement could yield as much as $2.64 million in maximum benefits for Tessera Technologies.
Job Development Investment Grants are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant. To date, 60 percent of all JDIGs have been awarded to North Carolina companies. Since the first grant was awarded in 2003, the program has been responsible for creating more than 27,000 jobs and $4 billion in investment in North Carolina.
For more information about Tessera Technologies, including employment opportunities, visit www.tessera.com.
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