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Last updated on Tuesday, March 13, 2012
(BLOOMINGTON) - Cigital, Inc., a software security consulting firm, announced plans today to locate a new facility here, creating up to 25 high-wage jobs by 2014.
The Virginia-based company, which specializes in helping companies design, build and maintain secure software, will invest $352,000 to lease and equip 2,400 square feet of space at 100 S. College Ave. The new facility will house the company's first assessment center outside of its Dulles, Va. headquarters and is slated to be operational in May.
"Innovative companies like Cigital recognize our state's high-growth potential for expanding businesses," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "With our world-class research universities and low-tax policies, we're continuing to bring in more high-wage jobs for Hoosiers."
Cigital, which has approximately 200 employees internationally, has already begun hiring new software security consultants.
"Bloomington and the surrounding area has a growing technology base and we are thrilled to be a part of it," said John Wyatt, chairman and chief executive officer of Cigital. "Our new location is representative of our growing business and we are excited about the talented individuals from the area that we will bring to Cigital."
Cigital was established in 1992 with funding and contracts from the Defense Advanced Research Projects Agency and NASA. The company, which has additional offices in New York, Massachusetts, California, the United Kingdom, the Netherlands and India, has been awarded eight patents for its advances in software security.
The Indiana Economic Development Corporation offered Cigital, Inc. up to $250,000 in conditional tax credits and up to $8,100 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Bloomington supports the project through additional incentives at the request of the Bloomington Economic Development Corporation.
"This is a big win in our continuing effort to enhance our growing high tech community," said Bloomington Mayor Mark Kruzan. "The new jobs that Cigital is bringing mean more opportunities in Bloomington for our local tech workers and for new grads from Indiana University. It also means more reasons for tech workers and other employers around the globe to look at coming to Bloomington to create their own opportunities."
According to TechAmerica Foundation's Cyberstates 2011 report, Indiana's tech sector employs more than 70,000 people, with a total payroll of $4.3 billion. The fastest growing fields in the Hoosier State's high-tech industry are the computer systems design sector and the engineering services sector.
Cigital, Inc. is the leading software security consulting firm in the world. Established in 1992, Cigital plans and implements initiatives that help organizations ensure their applications are secure and reliable while also improving how they build and deploy software. Our recognized experts apply a combination of proven methodologies, tools, and best practices to meet each client's unique requirements. Cigital is headquartered outside Washington, D.C. with regional offices in the U.S., Europe, and India. For more information visit: www.cigital.com.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
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