HB2 In Rearview, Credit Suisse Will Bring 1,200 Jobs To RTP

May 9, 2017

Credit Suisse will add 1,200 jobs in Research Triangle Park
Credit Credit Suisse / Flickr

Financial services giant Credit Suisse will add 1,200 new jobs in North Carolina and invest more than $70 million at its Research Triangle Park campus, the company announced Tuesday.

In a deal worked with Gov. Roy Cooper's administration, the company will be eligible for up to $40 million in tax credits through the state’s Job Development Investment Grant (JDIG) program. Under the program companies receive tax credits only if certain performance and investment benchmarks are met.

Salaries will vary by position, but taken together, the average salary for these new positions will be more than $83,000, according to Credit Suisse, well above Wake County’s average of less than $54,000.

At a press conference to celebrate the jobs announcement. Credit Suisse USA president and CEO Eric Varvel criticized House Bill 2, the controversial bathroom bill that was repealed earlier this year. "We opposed HB2, which was at odds with these core values," Varvel said. "While it was on the books, we chose to halt our expansion plans in the state and consider other options."

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Varvel went on to say that even the repeal wasn’t ideal. "We realize the recent repeal of HB2 contains some compromises, and while not perfect, it is an important first step that re-establishes the minimum conditions for us to expand our presence in the state," he said.

The new jobs will include in finance, IT and other critical corporate functions.

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