Raleigh's tech scene received a significant boost with Governor Josh Stein’s announcement that BuildOps, Inc., a software company serving commercial trade contractors, plans to establish a new operations hub in Wake County, creating 291 new jobs. The Los Angeles-based company, which supports HVAC, plumbing, electrical, and other contractors, will invest $771,200 in the region. According to a recent statement from the Governor’s Office, the company aims to tap into Raleigh’s strong tech talent and contribute to the continued growth of the area’s IT sector.
Alok Chanani, Co-Founder and CEO of BuildOps, expressed excitement about the new hub saying, "We’re thrilled to establish our newest operations hub in Raleigh, a city known for its exceptional talent pool, innovation-driven ecosystem, and strong commitment to business growth," this expansion, viewed through a gilded lens of opportunity and progress for the area, comes as a response to the needs of a rapidly growing customer base, already supported by hubs in Los Angeles and Toronto. North Carolina's Commerce Secretary Lee Lilley touted the state's tech sector growth of 25% since 2018, outpacing the national average, attributing this success to a strong concentration of IT professionals that appeal to companies like BuildOps, as they scour the landscape for specialized talent, as per the Governor’s Office.
With an average salary for the new positions projected at $110,997, above Wake County's average wage of $76,643, the move promises to inject over $30 million annually into the local economy. The project's benefits extend beyond job creation, as it is estimated to contribute more than $701.7 million to the state's economy over the course of a twelve-year Job Development Investment Grant (JDIG). The grant agreement, which includes checks and balances, may result in up to $1,839,000 in reimbursement to BuildOps, contingent upon meeting job creation targets, while asserting that for every potential cost dollar, the state will rake in $1.78 in revenue.
Senator Jay Chaudhuri acknowledged the significance of BuildOps' decision to plant roots in Raleigh, and alongside Representative Cynthia Ball, they lauded the efforts of economic development organizations and allies who played a pivotal role in securing the project for the region, with Ball remarking, "We look forward to seeing BuildOps reach the next phase of their growth here in North Carolina, serving their customers and bringing well-paying new jobs to the area." The project's planning and execution involved a slew of local and state agencies, including the North Carolina Department of Commerce, NC Community College System, and Raleigh Economic Development, underlining a collaborative effort designed to strengthen the state's business tapestry, as noted by the Governor’s Office.
