Raleigh Nurtures Home-Grown Start-Up to Quadruple Workforce; Make Capital Investment

Prepared by: Public Affairs Department

 

For more information: Dwight Bassett, Economic Development Manager, 919-516-2707, Dwight.bassett@raleighnc.gov

 June 7, 2012

RALEIGH NURTURES HOME-GROWN START-UP TO QUADRUPLE WORKFORCE; MAKE CAPITAL INVESTMENT

 

    Citrix Systems has chosen Raleigh as the site for the expansion of its Data Sharing Group.  In return, Citrix will receive an incentive from the City of Raleigh.

           Citrix Systems, Inc. is a leading provider of virtual computing solutions. The company’s virtualization, networking and cloud solutions provide enhanced ways for people, technology and business to work and connect. In October, it acquired ShareFile, which was created by two Duke University graduates in November 2005. ShareFile became Citrix’s Data Sharing Group.  

           The announcement made today by City of Raleigh officials, Citrix representatives and North Carolina Department of Commerce officials stated that the current Citrix Systems’ Data Sharing Group, will create 339 new, permanent, full-time positions with an average wage of $70,914. The new jobs are to be created over the next five years. In the same time frame, Citrix Systems will make a capital investment of between $11 million and $26 million in Downtown Raleigh to house the workforce of more than 450.

           “The City is happy to offer this modest opportunity to a company that has its roots in the local community. Originally a Raleigh start-up, this opportunity will allow the company to more than triple its Raleigh workforce and add to our city’s inventory of well-paying, full-time, permanent jobs. This is an investment in our economic vitality,” said Mayor Nancy McFarlane at the announcement, which was held at the North Carolina Department of Commerce at 301 N. Wilmington St.

           The City of Raleigh is offering Citrix Systems a grant that pays the company 2.25 percent of the new tax value of taxable investment recorded on the tax records for a period of 12 years at the current tax rate of $0.3735 per $100 property valuation. The payout period will begin when the new tax value is determined and the company has paid its taxes.

           The State of North Carolina awarded Citrix a Job Development Investment Grant.

           “Citrix is just the kind of company with high-tech jobs that Governor Perdue and our economic development team work hard every day to bring to North Carolina,” said North Carolina Commerce Secretary Keith Crisco.  “The company had a choice in where they were going to locate, and they chose Raleigh because of our highly qualified workforce and strong business climate.”

                Citrix Systems’ partners comprise more than 10,000 companies in 100 countries that earned annual revenue of $1.87 billion in 2010. The company is headquartered in Fort Lauderdale, Fla.

 

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