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(March 17, 2008) Charlotte, NC & San Jose, CA — The North Carolina Economic Investment Committee has awarded a job development investment grant (JDIG) to Tessera Technologies Inc., a provider of miniaturization technologies for the electronics industry. This grant will support Tessera's consumer optics plans, enabling the company to add 185 jobs and invest approximately $30 million in its Charlotte-based wafer-level optics facilities during the next five years.
Under the terms of the JDIG, for each year in which the company meets the required performance targets, the state will provide a grant equal to 65% 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.
"When we acquired Charlotte-based Digital Optics Corp. in 2006, our plan was to proliferate its wafer-level optics technologies into a broader range of applications that would impact people's lives in tangible ways, and this announcement furthers that intention," said Bruce McWilliams, chairman, president and CEO, Tessera. "After considering a number of possible sites, Kevin Drehmer, GM of Tessera North America, convinced us that Charlotte's emerging technology base, cultural vibrancy and positive business climate made it the ideal choice for our expansion."
"Given our roots at the University of North Carolina at Charlotte, our time at the Ben Craig Center and our strong connection to the Charlotte Research Institute, we are proud and grateful that this incentive package will enable us to expand our Charlotte facilities," said Kevin Drehmer, GM of Tessera North America. "This announcement reinforces our commitment to the region, and to developing and delivering innovative, industry-leading wafer-level optics solutions."
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