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RALEIGH — Monday afternoon, Wake County Commissioners approved an incentives deal for Raleigh-based software giant Red Hat.

The incentives provide $675,000 over eight years for Red Hat to keep its headquarters in Raleigh. In order to get the money, the company must invest at least $30 million in Wake County by 2013 and create at least 50 new jobs. Red Hat is expected to create 500 new jobs after it moves into the Progress Energy high-rise in downtown Raleigh.

“The ability for us to keep them without paying out a big incentive indicates they did want to stay here,” said Chairman of the Board of Commissioners Paul Coble. “But for us to make sure they could stay here and for us to get the investment in both money and jobs, Wake County will definitely benefit from this.”

Only one commissioner, Erv Portman, voted against the incentives deal, saying the multi-million dollar, publicly traded company does not need extra cash from Wake County taxpayers.

“$685,000 being paid by the taxpayers of Wake County to a $780 million corporation, I don't think is good public policy,” said Portman.

Red Hat is also expected to get incentive deals from the state and the City of Raleigh.