Virtual Computing Environment (VCE), a cloud joint venture launched by EMC and Cisco, has selected Richardson, Texas, to serve as the company’s headquarters.
The decision comes after the Texas Enterprise Fund, a state economic development fund, announced it would provide a $2.45 million incentive to the start-up. In return, VCE says it will invest about $35 million in capital expenditures in the region and create close to 430 local jobs.
“Texas is creating the right environment for a strong state economy with initiatives like the Texas Enterprise Fund that give companies like VCE attractive incentives to invest here for growth,” VCE chief executive officer Michael Capellas said in a statement.
VCE was launched by EMC and Cisco in November of 2009, and also includes investments from VMware and Intel. Its mandate is to provide information technology products and solutions that leverage cloud computing to improve IT costs and delivery.
VCE said in addition to locating its headquarters in Richardson, it will work with the University of Texas, at Dallas, to recruit employees for the facility.
A VCE spokesman told the Dallas Business Journal that the 430 jobs created in Richardson will be new jobs, not transfers from other locations. The company currently employs about 800 at offices in Texas, Massachusetts, California and Ireland.
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