OneRedmond announced Wednesday that the international technology giant HCL Technologies will be partnering with them in the future.
The announcement was officially made at a luncheon in Bellevue with representatives from OneRedmond, HCL and other economic partners.
“This is an exciting event and announcement,” said Redmond Mayor John Marchione. “…Thank you for making Redmond a better place.”
HCL was started in 1976 in India and has worked for decades to become the third-largest engineering services provider in the world in 2015, its website said.
It currently has 120,000 employees globally, with the largest hotspot in the United States being located in North Carolina.
Redmond is the second-largest headquarters stateside for the company.
HCL Executive Vice President Matt Preschern said he hopes to see them continue to expand in Redmond.
“We’re a fast growing global company, but at the end of the day, business does happen at a local level,” Preschern said.
The company already employs around 1,000 people in Redmond after it made substantial investments in 2009 during the recession.
HCL is doubling down and has already started working on bringing a state-of-the-art Internet of Things (IoT) lab to Redmond.
The IoT refers to the networking of devices, buildings and other electronics that send and receive information between each other for various purposes.
These allow the devices to function more autonomously with less direct human interaction, and advocates say it could help make systems like public infrastructure more accurate and cost effective.
HCL staff said that in coming years, some 10 billion to 30 billion devices will be connected to the IoT and it is projected to become a $1 trillion industry by 2020.
OneRedmond CEO Bart Phillips was at the luncheon and welcomed the company as a strategic partner.
“Redmond’s unique partnership among government, business and community is dependent on the participation of forward-looking companies,” he said.
The move could also be significant for OneRedmond, which is a public-private partnership.
It serves to promote development in the city and encompasses many industry leaders like Microsoft.
Mayor Marchione also sits on the Board of Directors and the city funds between 10 to 15 percent of the organization’s budget each year.
However, since this is an investment and not part of the city, OneRedmond is still a private nonprofit.
Phillips said in a separate interview that OneRedmond and the city work closely together to implement both development and public policy.
He gave the example of the city asking OneRedmond to conduct a study of parking in the city.
OneRedmond also has asked the city in the past to examine and simplify its permitting process, which the city did.
With the addition of HCL, OneRedmond will have 65 investors.
It will also be releasing its capital campaign results for the next five years soon.