TALLAHASSEE (CBS4) — Time Warner Inc. is bringing 500 jobs to Florida.

Gov. Rick Scott on Tuesday announced that the media and entertainment conglomerate that owns Home Box Office and CNN has chosen Tampa, Florida over other locations, including Atlanta.

READ MORE: Disaster Preparedness Sales Tax Holiday Starts This Weekend

The company will receive $3 million in state and local incentives to open a shared services center that will house human resources and information technology employees.

Time Warner Chief Financial Officer John Martin said the company expects to open the center by the end of 2012 with about 100 employees and eventually hire up to 500 jobs over a five-year period.

READ MORE: Going To The Miami Beach Air And Sea Show This Memorial Day Weekend? Here's What You Can Expect

Floridians will be hired for the 500 jobs while the company expects to relocate 50 jobs from outside the state.

Martin said workers would make more than $50,000 a year.


MORE NEWS: Several Injured In 7-Vehicle Crash In Tamarac

(© 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)