London-based Barclays Bank has decided to open a new technology center in McKinney, Texas to support global bank operations.

The center will support the bank’s global operations and growing industry requirements, provide technology support to the business and develop solutions for all the group’s activities and requirements.

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Barclays plans to take occupancy more than 40,000 square feet of office space at the McKinney Corporate Center at Craig Ranch this fall.

Barclays’ move is expected to create 500 high-paying jobs in McKinney.

Jim Wehmeier, president of the McKinney Economic Development Corp, said the jobs will be "high-quality" and most will be new hires, not transfers from other Barclays locations,

The jobs, many of them technical, will pay above the average area wage of $45,000 a year, he said.

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Most of the employees will move into the building in a year or so, but other hires will be spread over three years, Wehmeier added.