MHTA – The Minnesota Department of Employment and Economic Development (DEED) has awarded a $500,000 loan to Tata Consultancy Services (TCS) to help the India-based company expand operations to Bloomington.
The funding, awarded under the agency’s Minnesota Investment Fund, will enable TCS to expand to the 8300 Tower of the Normandale Lake Office Park. In exchange for the loan, the company has committed to creating 150 high-tech jobs in the state paying an average salary of $27 an hour. Half the loan will be forgiven once the jobs are created.
“We are very excited and deeply grateful that Tata Consultancy Services has decided to expand its operations in Minnesota,” said Gov. Mark Dayton. “The company will become a very important employer in Bloomington, and we look forward to assisting its continued success and growth in Minnesota.”
“TCS is a rapidly expanding information technology company that is an excellent fit for the Twin Cities market,” said DEED Commissioner Mark Phillips. “Many of the company’s corporate customers are already here, and the region has a strong technology workforce.”
“We are pleased that Tata is choosing to expand in the Greater MSP region. The decision to add 150 high-tech jobs in our region is recognition of our world-class workforce and the growing demand for Tata services by the major companies here,” said Michael Langley, CEO of the Greater MSP regional economic development group.
The company plans to station 300 employees in the 8300 Tower, including new workers as well as employees who will move from offices elsewhere in the metropolitan area.
TCS signed a long-term lease for 50,000 square feet of office space on the sixth and seventh floors of the 8300 Tower, part of the five-building Normandale Lake complex. Company officials were attracted to the site because of its proximity to the Minneapolis-St. Paul International Airport and the area’s many amenities, including restaurants, shops, meeting facilities and nearby trails.
Tata Consultancy Services, which was established in 1968, has 243,000 employees in 42 countries, generating revenue of $10.17 billion last year. TCS set up its first office in the U.S. in 1979 and today has 18 offices across the country, including Bloomington.