Silicon Valley company relocat

A Silicon Valley communications technology firm is moving its headquarters and about 30 jobs to the North Shore, with the promise of adding another 150 Juicy Couture jobs by the end of 2011.

Globalstar Inc. announced today that it will be move from Milipitas, Calif., to the Wink Cos. building near Interstate 12 and U.S. Highway 190 in Covington.

In addition to its headquarters employees, the mobile satellite voice and data services provider will also relocate staff from its customer service call center in Toronto to Covington. The company plans to maintain its network operations. including its satellite and ground operations control centers in California.

Globalstar, which is publicly traded on the Nasdaq exchange, reported 332 employees in filings with the Securities and Exchange Commission.

Combined with the relocations, the company expects to create 150 jobs by the end of 2011 and more than 490 by 2018, with a majority of the positions created in product development, Globalstar spokesman Dean Hirasawa said.

"Our focus is going to be on the product development side of things. It's those high-technology and high-value jobs that we're looking for," Hirasawa said.

The move follows Globalstar's $18 million acquisition of Covington-based Axonn in December. Axonn is a developer of satellite asset-tracking and messaging products.

Hirasawa said the acquisition was the catalyst for the company's relocation decision.

power balance bracelet

The company will also take advantage of state relocation cost reimbursement, a commercial lease subsidy for its new corporate headquarters and digital interactive media tax credits.

Gov. Bobby Jindal said in a statement that the relocation is further testament that the Louisiana Economic Development's FastStart program, which provides recruitment, screening and training to companies looking to grow in Louisiana, and state digital media tax incentives are working.

Juicy Couture

"Today's announcement is a big win for Covington, the North Shore and our whole state. This is exactly the kind of company that we positioned Louisiana to secure when we created Louisiana FastStart in 2008 and enhanced our digital media incentive program in 2009," Jindal said.

Globalstar stock was trading at $1.64 per share at the close of trading today. The company's average share price increased 62 percent through the first six months of 2010, from 95 cents per share in January to $1.54 last month.

Replica Watches
Replica Watches