Defense contractor Booz Allen Hamilton will add 208 jobs in Fayetteville in exchange for about $2 million in state and local financial incentives, it was announced Tuesday.
The N.C. Economic Investment Committee approved the state grant at its monthly meeting in Raleigh Tuesday morning. Gov. Roy Cooper made the formal announcement in Fayetteville a short time later with local and state economic developers and the company’s vice president, Joseph Dodd.
“Booz Allen Hamilton is expanding here thanks to Cumberland County’s workforce, which is strengthened by the military spouses and veterans who live and work around Fort Bragg and surrounding bases,” Cooper said.
Booz Allen Hamilton currently employs 315 people in Cumberland County. The vast majority of the new jobs — added over five years — will be in information technology and will pay a minimum average annual salary of $61,392. Once all the positions are filled, the annual payroll will be $12.7 million, according to the governor’s administration.
The expansion will occur in two phases — the first by expanding its current facility in Fayetteville, the second by expanding or moving elsewhere in Cumberland County — and result in a $5 million investment by the company by the end of 2020, according to the NC Department of Commerce. That investment includes $3 million in construction and building improvements and $2 million in tangible personal property.
The Fayetteville City Council and the Cumberland County Board of Commissioners each committed $89,000, for a total of $178,000. The state community college training fund will chip in $208,000.
The state’s Job development Investment Grant will potentially contribute up to $1.8 million for the expansion, under a state formula based on the amount of new taxes from the new jobs over 12 years. The company will have to meet job and investment goals.
Booz Allen Hamilton is a management and information technology consulting firm headquartered in northern Virginia. Much of its business is concentrated in metropolitan Washington, D.C., where it works with business, government and military clients, including most of the the U.S. cabinet agencies.