"LSU is excited to work with Louisiana Economic Development and IBM on a partnership that is bringing new educational and job opportunities to our state," said LSU President and Chancellor F. King Alexander. "LSU is committed to having a top computer science program, and welcomes students to take advantage of the opportunities offered through the Geaux Digital partnership and the LSU College of Engineering."
Another public-private partnership secured construction of the IBM center's permanent site. Commercial Properties Realty Trust (CPRT), a real estate investment trust, will build the $55 million urban development. CPRT manages and develops property holdings of the Baton Rouge Area Foundation, and the BRAF-affiliated Wilbur Marvin Foundation will own the IBM office building and an adjacent 11-floor residential building with 95 river-view apartments and nine town homes.
The approximately $30.5 million office building will be constructed with public funds, whereas CPRT, which estimates 600 construction jobs will be created by the overall project, will secure private financing for the residential building that will be completed in 2016. Bounded by Lafayette Street on the east, River Road on the west, Main Street on the south and North Street on the north, the development site is at the former location of The Advocate newspaper.
"We thank the state, city and the Manship family for partnering with us to bring IBM to Baton Rouge," said President and CEO John Davies of the Baton Rouge Area Foundation. "With this project, Baton Rouge begins a return to its riverfront, and downtown gets nearly 100 places for people to live - the final element of a revival plan that began 15 years ago."
LED offered IBM a customized, performance-based incentive package that also includes grants totaling $29.5 million over 12 years, including a $1.5 million contribution from the City of Baton Rouge/Parish of East Baton Rouge, to reimburse costs related to personnel recruitment, relocation, and other workforce-related costs; internal training; and facility operating expenses. The company also will utilize LED FastStart(TM) for recruitment support, as well as Louisiana's Quality Jobs program.
"BRAC applauds IBM for the advances they have already made to date to establish their Baton Rouge services center," said President and CEO Adam Knapp of the Baton Rouge Area Chamber. "Having over one hundred jobs already in place shows how serious they are about growth, and is a positive early sign about the quality of our software talent. Today's groundbreaking is an important moment in the history of the region's economy."
IBM Services Center: Baton Rouge joins IBM's globally integrated capability network, which delivers deep technical and industry expertise. It is the latest in a series of job-creating investments IBM has made this year in high-tech, science and innovation in support of the global competitiveness of U.S. workers. This builds upon IBM's efforts to build technology skills for primary and secondary school students through its Young Explorers and P-TECH programs, as well as to train college students for high-tech jobs in local markets.
Additional details about IBM's Baton Rouge project and its future hiring plans for the IBM Services Center: Baton Rouge may be found at www.ibmlouisiana.com/jobs. In an open-bidding process, CPRT selected The Lemoine Company as the general contractor for the construction project.
For more information, contact Gary Perilloux, LED press secretary, at firstname.lastname@example.org or 225-342-3437.
IBM is a globally integrated technology and consulting company headquartered in Armonk, N.Y. With operations in more than 170 countries, IBM attracts and retains some of the world's most talented people to help solve problems and provide an edge for businesses, governments and nonprofits. Innovation is at the core of IBM's strategy. For more about IBM, visit www.ibm.com.
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