News Summary
BuildOps, a construction software company, has launched a new office in Raleigh’s Glenwood South district, aiming to create over 300 high-paying jobs. With an investment of $711,000 and $3 million in incentives, the company targets an economic impact of $702 million over 12 years. This expansion highlights Raleigh’s strong tech talent pool and educational resources, driving growth in the local economy as the company continues to thrive in the competitive market.
Raleigh, North Carolina — BuildOps Expands Its Operations with New Office and Job Creation Plans
BuildOps, a software firm specializing in solutions for the construction trades, has opened a new office in Raleigh’s Glenwood South district, marking a significant expansion in the city’s tech landscape. The company plans to create at least 300 high-paying jobs with an initial investment of around $711,000 for development, supported by approximately $3 million in state and local incentives through 2037.
Job Creation and Economic Impact
The new Raleigh office currently employs about 100 staff members, with expectations to surpass the initial target of 300 employees sooner than anticipated. The average annual wage for these new roles is approximately $111,000, which is notably higher than the average wages for private sector jobs in Wake County. The projected payroll impact from the new positions exceeds $30 million annually. Over the 12-year span of the incentives agreement, the project’s economic impact is estimated to reach roughly $702 million.
Company Overview and Growth
BuildOps was co-founded in 2018 by Alok Chanani and Steve Chew. Today, it employs around 500 people and serves customers across all 50 states and in Canada. The company has experienced rapid growth, doubling its revenue every year, which has earned it a spot among the top 100 firms on Inc. magazine’s list of the 5,000 fastest-growing private businesses. Its funding totals over $300 million, including a recent $127 million funding round led by Meritech Capital Partners. The company’s valuation exceeds $1 billion, and Raleigh joins Los Angeles and Toronto as key operational hubs.
Reasons for Raleigh Selection
When choosing a location for expansion, Raleigh was selected over other potential sites such as Austin, Texas. The decision was primarily driven by the region’s robust tech talent pool and access to top-tier universities. These factors are viewed as instrumental in addressing the company’s challenge of sourcing skilled workers, especially in a competitive job market. The city’s strong educational institutions are seen as assets vital for developing the highly skilled workforce needed by high-tech companies like BuildOps.
Investment and Incentives Details
BuildOps has received around $3 million in incentives from state and local governments, which include additional grants totaling approximately $87,300. The incentives are tied to achieving growth targets, with the Job Development Investment Grant (JDIG) providing reimbursement up to $1,839,000 over 12 years based on the tax revenue generated from new jobs.
Development and Community Impact
The company intends to invest about $711,000 in Raleigh’s office development by the end of 2029. The expansion project is a collaborative effort involving the Economic Development Partnership of North Carolina and local government officials. This effort aims to stimulate local economic recovery, particularly in downtown Raleigh, which has faced challenges in office space absorption following the COVID-19 pandemic.
Workforce Development and Future Plans
To support its growth, BuildOps plans to hire engineers, implementation staff, customer service reps, and sales personnel. Community colleges and universities in North Carolina are seen as crucial resources for training the required high-tech workforce, aligning with the company’s focus on providing efficient software solutions for foundational construction businesses including plumbing, electrical, HVAC, and refrigeration.
Conclusion
The expansion of BuildOps into Raleigh represents a significant economic development event for the region, emphasizing the city’s attractiveness as a business hub with a favorable living environment and access to a talented young workforce. The project underscores ongoing efforts to revitalize Raleigh’s downtown district and attract innovative high-growth companies through targeted incentives and community support.
Deeper Dive: News & Info About This Topic
HERE Resources
BuildOps Expands to Raleigh, Creating High-Paying Jobs
Charlotte and Other NC Cities Recognized Among Top Tech Employers
Additional Resources
- News Observer: BuildOps Expands Operations in Raleigh
- Wikipedia: Raleigh, North Carolina
- Business North Carolina: BuildOps CEO on Growth
- Google Search: BuildOps Raleigh
- WRAL: Construction Software Company in Raleigh
- Google Scholar: BuildOps
- ABC11: BuildOps Job Creation in Raleigh
- Encyclopedia Britannica: Construction Technology
- Access News Wire: BuildOps Expansion
- Google News: BuildOps Expansion
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
