May 25, 2004

Hitachi to move 650 jobs to Evergreen

Hitachi Global Storage Technologies (GST) recently announced plans to relocate the company’s headquarters and research functions to southeast Evergreen in the former Dade Behring building, which is currently vacant.

The storage technology giant also plans to invest more than $250 million in the next 10 years in tenant improvements to the site.

“This is a real boon for Evergreen,” said San Jose City Councilmember Dave Cortese, adding, “I feel strongly that Hitachi GST’s presence will only enhance our wonderful community, and I look forward to their civic participation as well.”

On May 18, the City Council approved a memorandum of understanding outlining plans for Hitachi’s new Yerba Buena campus as well as the Cottle Road campus, where the company is currently located.

Hitachi GST has agreed to a long-term lease—with an option to buy—for the existing 21-acre, 377,000-square-foot office campus at 3403 Yerba Buena Road. Hitachi GST will relocate approximately 500 employees from its headquarters on Cottle Road and about 150 employees from its San Jose Research Center to the new Yerba Buena campus.

Jim Pascoe, communications manager for Hitachi GST, expects the company to occupy the space in 2005. “We expect about a full-year build-out of the space,” said Pascoe. “There’s infrastructure that needs to be updated and labs to be built out for our researchers moving from San Jose Research Center.”

Hitachi GST was founded in 2003 and formed as a result of the strategic combination of Hitachi and IBM’s storage technology businesses. Hitachi GST purchased the hard drive operation from IBM at that time and decided to recommit, keeping its headquarters here in San Jose.

“We see this as an important expansion of our San Jose presence, and we see the support we’ve gotten from the city of San Jose as critical,” added Pascoe.

When asked if he foresees any new jobs coming to Evergreen, he responded, “That depends on our overall business growth and health going forward. It’s tough to say at this point.”

For more information, visit the Web site at www.hitachigst.com.