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The Swiss Are Coming: Cybersecurity Firm To Open Second Headquarters In Phoenix
A Swiss technology company plans to open a second headquarters in Phoenix this summer. While its corporate headquarters will remain in Switzerland, The Kudelski Group says Phoenix will provide a "complementary headquarters" to capitalize on the North American market.
Company spokesman Phil Mundwiller told KJZZ about 15 employees will move from Switzerland this summer to work at the office near 40th Street and Camelback Road which will serve as headquarters for its cybersecurity business.
Mundwiller said the Kudelski Group also plans to hire about 150 people. He said the area offers an excellent pool of engineers, especially from Arizona State University.
Arizona Commerce Authority spokeswoman Susan E. Marie said Kudelski has “committed to creating 349 projected new Arizona jobs and making a $35.5 million capital investment in a five-year period.”
Marie also said the Commerce Authority has offered Kudelski a $500,000 grant from the Arizona Competes Fund. Additionally, the company is eligible for the Quality Jobs Tax Credit program, but Marie said at this time they have not submitted an application.
In a news release, the company said the move will help "better leverage growth opportunities" developing in North America while "[a]t the same time, the Group will be able to mitigate the effects of the strong Swiss franc by progressively shifting its center of gravity and by reporting its financial results in U.S. dollars beginning as of its 2017 fiscal year."
The Kudelski Group will continue to be listed on the Swiss Stock Exchange (SIX:KUD:S).
EDITOR'S NOTE: This article has been modified to reflect the university referenced for its pool of trained engineers was Arizona State University.