Austin-based Accruent plans to establish a tech center in New Orleans’ Central Business District that promises to create 350 new jobs.
Accruent CEO John Borgerding and Gov. John Bel Edwards announced the plans this morning, with Louisiana Economic Development saying the jobs will pay average annual salaries of $65,000, plus benefits.
Accruent specializes in software and IT products for business’ real estate, construction, development and facilities management functions. The company will use about 20,000 square feet of office space in the CBD, with a specific location to be announced at a later date. Accruent has already begun hiring and plans to reach full employment in New Orleans by 2020.
In addition to the direct new jobs, LED estimates the tech center will support another 338 indirect jobs.
To secure the deal, Louisiana is providing Accruent an incentive package that includes workforce development assistance via the LED FastStart program. The company is also expected to benefit from the state’s Digital Interactive Media and Software Development Incentive, as well as the Quality Jobs Program. The former provides a 25% tax credit on qualified payroll for in-state labor and 18% for qualified production expenditures, while the Quality Jobs program provides a cash rebate of up to 6% of the company’s payroll on new jobs created for 10 years.
