This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hitachi Subsidiary To Bring Jobs To Colorado

KRISTEN WYATT

DENVER (AP) â¿¿ A subsidiary of Hitachi Ltd. will open a research and development center in suburban Denver in a move expected to create hundreds of new jobs during the next five years, it was announced Friday.

Colorado development officials say the move by HDS to Meridian Corporate Center in Douglas County further expands the prominence of the state in the technology and electronics industry.

About a year ago, Arrow Electronics Inc. transferred its global headquarters to Englewood and has added about 400 jobs.

"What you're starting to see is a momentum and a real depth that is starting to develop around those industries," said Ken Lund, director of the Colorado Office of Economic Development.

Santa Clara, Calif.-based HDS provides mid-range and high-end enterprise storage systems, software and services.

Hitachi vice president Randy DeMont said 200 jobs â¿¿ mostly engineers â¿¿ should be added at the new Colorado site within a year. Hires also will be made in human resources, finance and marketing.

Hitachi also is considering a possible call center in Douglas County. About 50 people already work for HDS in downtown Denver.

"What you're getting in Colorado today is a long-term commitment from a good company," DeMont said after poking fun at some of the equipment brought by reporters covering the announcement.

"We had nothing to do with this microphone arrangement that is duct-taped together," DeMont said to laughs from the crowd.

The jobs are welcome news. Colorado's unemployment rate for August was 8.2 percent, a slight improvement from July's rate of 8.3 percent.

Friday brought news that the national unemployment rate slid to 7.8 percent in September, falling below 8 percent for the first time since 2009. State-specific numbers weren't yet available for September.

___

Find Kristen Wyatt at http://www.twitter.com/APkristenwyatt

___

Online:

http://www.hds.com

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,102.30 +15.67 0.09%
S&P 500 1,990.56 +3.55 0.18%
NASDAQ 4,482.0620 +8.3650 0.19%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs