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Rating:Fido May Build in N.C. Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, February 13, 2006

Fido May Build in N.C.

by: Sean Hanna, Editor in Chief

Fidelity is reportedly mulling over building a new regional complex in North Carolina's Research Triangle Park. The Boston Behemoth could employ as many as 5,000 in the to-be-built facility, according to a local business paper.

Fidelity currently employs 930 workers at a center for its employer services company located in Durham. Those workers include 450 former IBM employees who joined the fund firm when Fidelity took over servicing of IBM's retirement plans. Those workers also administer Bank of America's HR operations.

The Triangle Business Journal reported on the project, which is code named "Project Ribbit." (Fidelity has long used a frog as its unofficial mascot, so the name does fit).

The project covers four adjoining sites covering more than 212 acres, according to the Journal. The state is also reportedly offering Fidelity financial incentives to develop the site.

The incentives would reportedly include funds from the North Carolina state Job Development Investment Grant program, the One North Carolina Fund and grant funds from the Wake County Board of Commissioners.

The state's William S. Lee Act would also presumably offer Fidelity tax credits for new jobs created in the state. 

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