Intersil Corp, to Move:
Local Residents Get Jobs, Company Gets Tax Benefits
Intersil Corp., manufacturer of high-performance wireless networking solutions, announced today that it will relocate its corporate headquarters from Irvine, Calif, to Milpitas, effective December 1, 2010. The company plans to accommodate the expanding operation with the relocation of the finance, human resources, IT and sales operations facilities.
Intersil Corp, cited Milpitas' skilled work force, good access to an international airport, and the generous tax incentives offered by the state government and the cost-effective environment as the main reasons for choosing the city for its new head office.
The move is expected to generate up to 90 new high-paying jobs for local residents. With an average annual salary of $50,000, Intersil's annual payroll for workers in Milpitas will surpass $4 million. This is good news for the city.
"Our attractiveness as a place to live and work, makes this city an excellent home for Intersil where they can prosper and grow well into the future. Also, Intersil's impressive salaries will significantly impact the local economy," said Mayor Ronald Lopez.
Although the relocation will cost Intersil Corp, a significant amount of money, executives feel it is a worthwhile investment. "We can continue to execute our plan towards profitability, while building our company for the future in the new site," CEO Adriana Cruz said in a press statement.
