Gov. Bev Perdue announced today that international risk management consultant IEM will move its headquarters from Baton Rouge, La., to Durham County, creating 430 jobs over the next six years. The announcement was made possible in part by a state Job Development Investment Grant and One North Carolina Fund award, and is contingent upon approval of local incentives.
“As a technology hub with a vast military presence, the relocation of IEM to North Carolina is a perfect fit that will benefit both the company and the state,” Perdue said. “This partnership is another step in creating the top-paying, knowledge-based jobs that I am committed to bringing to North Carolina.”
IEM is a privately held company that provides risk-based solutions for measuring and managing threats to people, infrastructure and information. Since IEM’s founding in 1985, it has provided emergency management, homeland security, military and information technology solutions to federal governmental agencies including the U.S. Department of Defense, Federal Emergency Management Agency (FEMA) and the Department of Health and Human Services and as well as working with cities, ports and the private sector.
The 430 new jobs will pay an overall average wage of $62,778 a year, not including benefits. That is higher than the Durham County annual average of $57,772.
Company President and CEO Madhu Beriwal said several factors influenced her decision to move to Research Triangle Park. “I am very excited to be moving our corporate headquarters to the Triangle area for three key reasons — its highly educated workforce, history of innovation, and culture of public and private collaboration,” she said. “Governor Perdue and the economic development staff throughout the Triangle area have created a positive, business-friendly environment, and I look forward to IEM being a part of this community.”
U.S. Rep. David Price, who chairs the House Homeland Security Appropriations Subcommittee and participated in the project announcement, said that IEM provides an important service.
“IEM has rightly recognized the unique benefits of being a Research Triangle-based business, and the people of Durham County will receive a tremendous boost from 400 new, well-paying jobs,” Price said. “In North Carolina, we value a strong partnership between the government, first responders and the private sector to ensure we are prepared to handle disasters. IEM plays a major role in that partnership at the highest levels, so we are pleased to welcome them to our Triangle community.”
To facilitate this expansion, IEM has been awarded a $150,000 grant from the state’s One North Carolina Fund. This fund assists the state in industry recruitment and expansion by providing financial assistance through local governments to attract business projects deemed by the governor to be vital to a healthy and growing state economy. One North Carolina Fund grants require a local match, and this grant is contingent upon approval of local incentives.
“During these tough economic times, it’s important to continue making investments to grow jobs and attract businesses to North Carolina,” said Rep. Mickey Michaux. “We welcome IEM to Durham County.
“Our knowledge-based workforce is second-to-none, and it continues to attract top-notch companies and new jobs to our state,” said Sen. Floyd McKissick.
In addition, the state Economic Investment Committee today voted to award a Job Development Investment Grant to IEM. JDIGs 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.
Under the terms of the JDIG, the company is eligible to receive a grant equal to 75 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the 12 years in which the company meets annual performance targets. If IEM meets the targets called for under the agreement and sustains them for 12 years, the JDIG could yield as much as $9 million in maximum benefits for the company.
In addition, up to $3 million could be added to the state’s Industrial Development Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in the state’s more economically prosperous counties such as Durham, 25 percent of the grant award is allocated to the Industrial Development Fund to encourage economic development in less prosperous counties.
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state continues to work aggressively to create jobs, train and retrain workers, and lay the foundation for a strong and sustainable economic future.
Other partners who assisted with this announcement include: The N.C. Department of Commerce, N.C. Military Foundation, N.C. Community Colleges, Research Triangle Regional Partnership, Research Triangle Foundation, Durham County, Durham Chamber of Commerce, N.C. State University and N.C. Military Business Center.
For more information about IEM, including job opportunities, visit www.iem.com.