Netchex has announced a new headquarters in Mandeville, Louisiana. The company will make a $5.3 million dollar investment for the next two years to lease an office space before competition of the new facility.
Netchex is one of the one of the South’s largest employer services providers with an emphasis on payroll services. Their single-source solution is a cloud-based, end-to-end platform for managing employees from the start of their career to retirement.
The company began in Mandeville in 2003 and has now grown to an employee roster of almost 120. With the expansion, Netchex expects to create 240 new direct jobs and 120 new indirect jobs.
CEO Will Boudreaux says the expansion plan includes migrating to a facility to absorb our growth, better manage the business and be reflective of the strong brand that has been building over the years.
The Louisiana Economic Development office has been discussing the plans with Netchex since January. To secure the headquarters expansion, the state offered an incentive package that includes the services of LED’s FastStart workforce development program, according to the release.
“We turned to LED for guidance and support when we recognized that rapid expansion was needed,” said Boudreaux. “They were tremendous in fully understanding our priorities and creating a custom package that met all of our needs. No doubt, their ability to leverage competitive state programs cemented our decision to grow Netchex right here in Louisiana.”
Hiring for the new positions has begun and the company will begin moving into the leased office space in early 2016.