Infosys Limited (NYSE:INFY) will soon open its North Carolina Technology and Innovation Hub in Raleigh, in a bid to boost innovation and generate new employment opportunities for the tech workforce in the United States over the long run.
Inside the Headlines
The new hub in Raleigh will primarily focus on delivering state-of-the-art artificial intelligence, cloud and big data, advance analytics, and machine learning solutions. Notably, the center will also aid the progress of premium co-created solutions for Infosys’ major clients in North Carolina and surrounding areas.
Infosys stated that the above discussed hub will help create better employment opportunities in the United States. This, in turn, will provide a boost to Raleigh’s robust technology-based economy. This Zacks Rank #2 (Buy) company plans to hire nearly 10,000 employees over the next two years.
The company also stated that the North Carolina Technology and Innovation Hub will offer jobs to nearly 500 Americans in the next two years. In addition, almost 2,000 workers are likely to be hired in the hub by 2021. Notably, Infosys has aligned with the North Carolina Community College
System to create a personalized workforce training program.
The Carolina hub is anticipated to commence operations from early 2018 and will be a 60,000-square-foot facility in Raleigh.
Existing Scenario
Infosys is poised to grow on the back of its Renew New program, strong innovation, greater operational efficacy, robust revenue growth and increased cash generation.
However, escalating costs, President Trump’s anti-immigration stance and on-site expansion are major headwinds for the company. Notably, the company’s shares lost 6%, as against 3% growth recorded by the industry, in a month’s time.
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CSRA Inc. (NYSE:CSRA) has an EPS growth expectation of 10% for the same time frame.
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