GOV. EASLEY ANNOUNCES 200 JOBS AND $11.8 MILLION INVESTMENT FOR N.C.
JDIG Helps Ralph Lauren Media Relocate To Guilford County

RALEIGH - Gov. Mike Easley today announced that Delaware-based Ralph Lauren Media LLC will invest $11.8 million in the opening of a customer service center that will bring 200 new jobs to High Point. The project was made possible in part by a grant from the Job Development Investment Grant (JDIG) program.

"Today's announcement shows that North Carolina has the skilled workforce and No. 1 business climate to attract globally-recognized companies like Ralph Lauren," said Easley. "We will continue to make the necessary investments in workforce development, education and infrastructure, so that we remain a top choice for companies wanting to relocate and expand."

Ralph Lauren Media is a 30-year partnership between the Polo Ralph Lauren Corporation, the National Broadcasting Company and ValueVision Media Inc., created to market the Ralph Lauren brand. Ralph Lauren Media's first initiative was the development and launch of Polo.com, the online store for Polo Ralph Lauren, in November 2000.

Since the launch of Polo.com, ValueVision Media Inc. has provided customer service and order fulfillment operations through the company's facilities in Minneapolis, Minn. and Bowling Green, Ky. The new High Point facility will manage all Polo.com operations including fulfilling customer orders, altering and embroidering products and providing customer support.

Construction on the new facility is scheduled to begin in December of 2006. The customer service center is expected to open in the summer of 2007. Ralph Lauren Media will invest $11.8 million in machinery and equipment for the facility.

The 200 new jobs will include management, technology support and call center operators. While individual wages will vary by job function, the average yearly salary for the positions will be $33,695, plus benefits.

"We are thrilled to partner with the state of North Carolina and further support the local community of High Point. This is a wonderful place to do business and we look forward to sharing in Guilford County's continued growth and success," said Sarah Gallagher, president of Ralph Lauren Media.

"This kind of investment demonstrates what happens when state and local officials work together to create a business-friendly environment," said Sen. Kay Hagan (D-Guilford). "Through my work as co-chair of the Senate Appropriations Committee, the legislature has passed the kinds of programs that will attract jobs and help communities grow."

"I am proud of the work the state House of Representatives has done to establish the kind of pro-business climate that attracts well-paying jobs," said state Rep. Pricey Harrison (D-Guilford). "As a member of the Appropriations Subcommittee on Natural and Economic Resources and the Education Committee, I will work to make sure our workforce has the kind of education and dedication employers seek."

Other partners who helped make this announcement possible include: The N.C. Department of Commerce, Guilford County, the City of High Point, the High Point Economic Development Corp. and the Piedmont Triad Partnership.

This is the 48th Job Development Investment Grant award announced since Gov. Easley began the JDIG program in 2002. JDIGs are awarded only to projects whose benefits exceed their costs to the state and which would not be undertaken in North Carolina without the grant.

Under the terms of the JDIG agreement approved by the Economic Investment Committee, a 10-year grant will be established. Over the life of the grant, the N.C. Department of Commerce estimates the project will:

• Generate a cumulative gross state product value of about $1.75 billion
• Produce a positive, cumulative net state revenue impact of $77.35 million
• Contribute nearly $510,000 to the state's Industrial Development Fund for infrastructure improvements in rural and economically distressed areas of North Carolina. This contribution is required of grant recipients that locate in Tier 4 urban county such as Guilford.

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. If the company creates all of the jobs called for under the agreement and sustains them for 10 years, Ralph Lauren Media could yield a maximum benefit of $1.52 million.

For more information about Polo.com or employment opportunities with the company, visit http://about.polo.com.