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60 US Based Firms Eye Nizamabad

As many as 60 software companies based in New Jersey, Chicago, Washington DC, Dallas and Atlanta have come forward to set up their units in Tier II city of Nizamabad in TS. In view of the IT Hub coming up in Nizamabad, the companies sent Letter of Intent to the state government.

IT minister K.T. Rama Rao has sanctioned 25 crore for the IT Hub works. Incentives like 25 per cent rent subsidy, 80 per cent power subsidy and manpower with lower wages have attracted the foreign companies to begin their operations here soon. In addition the government will give priority to IT firms to take up the official works.

To promote the IT industry in Tier II cities, the state government has already sanctioned IT hubs in
Khammam,Warangal, Karimnagar cities. Mr Rama Rao assured to set up IT hub in Nizamabad during his visit to Armoor and it would came up in around 50,000 sq ft.