Devon IT Receives State Grant To Fuel Company Expansion, Grow Technology Jobs in Pennsylvania; Fastest Growing Thin Client Company Offered an Investme
DATELINE: KING OF PRUSSIA, Pa.
Devon IT, the fastest-growing provider of thin client terminals and innovators of the SafeBook(TM) thin client notebook, today announced that it has received an investment package from the state to help fund a massive expansion project that will create 170 new jobs in Montgomery County in the next three years.
"This news comes at the perfect time, and serves to continue our momentum as the technology industry's most rapidly expanding server centric computer company," explained Joe Makoid, President, Devon IT. "Our partnerships with IBM, Citrix, and VMware, and ever-growing customer pool in the Fortune 500 and across the education, healthcare, and financial verticals, have mandated a substantial expansion. We are very pleased that the state has recognized this growth and offered us this generous investment package to help advance and create jobs in the technology field."
A $540,000 investment package was offered to Devon IT by Governor Rendell and the Department of Community and Economic Development (DCED) and includes a $150,000 Opportunity Grant, up to $50,000 in Customized Job Training (CJT) funds, and $340,000 in Job Creation Tax Credits (JCTC). The company will expand its existing King of Prussia operation by 23,000 square feet. The first phase of the expansion entails the company leasingan additional 11,500 square feet of office space at its current location. It will lease another 11,500 square feet when needed. The expansion project will total more than $1.7 million.
"Devon IT's decision to invest and grow in Montgomery County is great news for the southeast region and the state's growing technology sector," said Governor Rendell. "Its commitment to create 170 new jobs through this nearly $2 million project means more opportunities for our hardworking men and women. It is this type of private sector investment, coupled with state resources, that is helping Pennsylvania to revitalize its businesses and its communities, improving the quality of life for our residents."
"The offering of this grant exemplifies the state's true commitment to growing jobs in Pennsylvania, and its understanding of the importance of the technology industry," said Makoid. "Expanding technology jobs in the region will continue to improve Pennsylvania's economic climate and create opportunities for its citizens. We are proud to be a part of the state's positive direction."
Devon IT was one of five Montgomery County businesses to receive strategic investments from the state. The investments combined total more than $3.8 million, will attract more than $13.1 million in private sector financing, and are expected to create 440 jobs within the next three years.
About Devon IT
Devon IT is an information technology company that focuses on offering thin client terminals and ultra-secure remote access solutions that provide enterprise customers with greater security, enhanced manageability, improved reliability, and lower costs. Devon IT develops products which support IBM's Hosted Client Infrastructure and Blade Computing ecosystem and is a founding member of Blade.org. More information is available atwww.devonit.com
All company, brand, or product names are registered trademarks or trademarks of their respective holders.
CONTACT: Devon IT
Paul Mancini, 610-757-4108
pmancini@devonit.com