Financial services giant Deutsche Bank is zeroing in on Cary for a global technology center that would create more than 300 high-paying jobs.

The decision comes at a cost to taxpayers. The Cary Town Council voted to give the company $75,000 in incentives -- on top of up to $9.4 million in incentives from the state.

And while that caused at least one councilman to bristle, most town officials were at least happy to see some bright news in an otherwise gloomy recession.

"Any time we can get a big corporation like this to come, it's great for the economy," said Cary Councilman Don Frantz. "It's an honor for Cary. ... It says a lot about the kind of community we have here."

Indeed, Deutsche Bank looked elsewhere, including Maryland, local economic development officials said. But the company decided that, in the end, the Triangle offered the right pool of skilled professionals and graduates, spokesman Scott Helfman said.

The company is establishing a new subsidiary, DB Global Technology, that will develop and test software that can be used by the bank at its sites around the world, he said. Deutsche Bank has 78,896 employees in 72 countries.

Economic development officials have been striving to attract more financial services jobs to this region in an effort to broaden the employment base. Credit Suisse has a technology operation in Research Triangle Park that employs more than 800. And Fidelity is planning a campus in RTP.

Like Deutsche Bank, Credit Suisse and Fidelity were lured partly by state incentives packages. Those stated tax breaks and other incentives hinge on the companies meeting hiring milestones each year.

Cary's token gift of $75,000 was approved with a 6-1 vote. Frantz was the only holdout.

"It's a game that many of these companies play to see what kind of handout they can get," he said. "I'm not willing to play the game."

He added: "I think Cary works hard to build a world-class community, and I think that's enough of an incentive."

The new Deutsche Bank jobs will pay an average annual wage of $88,213, well above the Wake County average of $43,160, according to the governor's office. "Cary is made up mostly of high-paid professionals, so to bring high-paying jobs to Cary is always a good thing," said Cary Mayor Harold Weinbrecht.

Some local workers will be transferred from other Deutsche Bank locations, but most will be hired locally.

It's not yet certain where in Cary the company will locate. But it has been negotiating with Highwoods Properties about a potential lease in the CentreGreen office park off Weston Parkway. Highwoods spokeswoman Tabitha Zane declined to comment.

Deutsche plans to move into temporary space in Cary within a matter of weeks and expects to be in a permanent home by the end of the year. It will begin hiring shortly and expects to ramp up to 319 workers over the next five years.

Helfman said he didn't know how many employees the company expects to hire this year.

Staff writers Jack Hagel and Alan M. Wolf contributed to this report.