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HIGH POINT, NC (AP) — Ralph Lauren Corp. will create 500 more jobs over the next five years and invest $97 million in High Point, where the company already has several operations.

Gov. Bev Perdue said Thursday that the project was made possible by state grants from two funds, including up to $2.5 million in maximum benefits from one and up to $500,000 from the other.

Ralph Lauren is High Point’s fourth-largest employer, with more than 1,400 workers. Its North Carolina operations include three distribution centers, a customer contact center, various office jobs and a research and development center. The new jobs will involve research and development and inventory management.

The payroll for the new positions will be $15.5 million.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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