Citrix Seeks New Space in Downtown Raleigh to Invest $12.5M
- Jun 14, 2012
by Adriana Pop, Associate Editor
Citrix Systems Inc. plans to expand its data-sharing division by investing at least $12.5 million in a new facility in downtown Raleigh. The company chose Raleigh over Atlanta and Austin for its expansion.
Jesse Lipson, general manager of Citrix Systems data sharing operations, told the Triangle Business Journal that the company is now seeking a facility that can offer between 80,000 and 100,000 square feet. The division is currently based in a 22,000 square feet building near Crabtree Mall on Glenwood Avenue.
According to CityBizList, the expansion project was made possible in part by state incentives from the Job Development Investment Grant. Citrix Systems will receive more than $9.2 million, as approved by the state Economic Investment Committee, if it meets hiring and investment requirements. The purpose of the funds is to support new and expanding businesses which would not otherwise be undertaken in North Carolina.
In October 2011, the company acquired Raleigh-based software firm ShareFile, which became Citrix System’s Data Sharing Group. Since the acquisition, the division has grown from 80 to 130 employees and is planning to add 337 more over the next five years. Citrix will pay an annual average wage of $70,695, well above the Wake County average of $45,396.
In other news, Driftwood Hospitality Management announced details of a $7.5 million renovation plan for the Hilton Raleigh-Durham Airport at Research Triangle Park. The company acquired the 249-room property under a joint venture with New York-based Apollo Global Management LLC for $16.5 million in April.
Slated to begin in July, the renovation will include a re-design of the lobby, meeting spaces and guest rooms, as well as the launch of a new restaurant concept. The upgrades are part of the joint venture’s major hotel expansion program that includes the Sheraton Columbus Hotel at Capitol Square and the DoubleTree Hotel in downtown Wilmington. The companies expect to finalize the renovations by the end of 2012.
Photo credits: Wikimedia Commons