CARY, N.C. - Cary is welcoming a new project with a big investment and more than a hundred high-paying jobs.

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PharmaNet, a global drug development company, held a ribbon cutting this evening for a new facility.

The office is combining two smaller properties: one had a clinical group and the other was staffed by data management personnel.

"It gives us the opportunity to grow in this area and expand this office from approximately 100 people right now to a capacity of well over 200 people," said Dr. Dalvir Gill, PharmaNet's Chief Operating Officer.

Cary's mayor and several town council members were on hand to welcome the new property; they say the investment PharmaNet is making will be good for the town.