Downtown to get more than 1,000 high-tech jobs in major lease and construction deal for Des Moines

BY KENT DARR Business Record | Senior Staff Writer | @KentDarr

Cognizant Technology Solutions Corp., a multinational corporation that is based in New Jersey with a presence in Des Moines, plans to hire more than 1,000 people and occupy office space in Two Ruan Center as well as build two office building in the Gray’s Landing development.

The company, one of the leading STEM recruiters in the United States, currently employs slightly more than 400 people in Des Moines who work out of two office buildings downtown.

According to an application for state of Iowa high-quality-jobs tax credits, the company will spend more than $14 million to lease 50,000 square feet of office space in Two Ruan Center and to lease two 54,000-square-foot built-to-suit office buildings. The costs also include expenses for remodeling and computer hardware.

The Iowa Economic Development Authority board will consider a forgivable loan of $812,000 when it meets Friday as well as a rebate of sales taxes on construction materials.

The city of Des Moines also is working out the details of an incentive package that includes tax increment financing for the Gray’s Landing office building project.

Continue reading about the affect the company’s decision is likely to have in Des Moines. Full Insider story >>>

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