By Joshua Burd
An invoicing and payment software firm will relocate within Mercer County to nearly 90,000 square feet in Lawrenceville, state officials said Wednesday, thanks in part to a 10-year, $12.9 million tax credit that was awarded to the business earlier this month.
In conjunction with the state Economic Development Authority, Billtrust announced it will establish its new 88,759-square-foot headquarters at 1009 Lenox Drive in Lawrenceville. The company, which is currently based in Hamilton, has chosen to remain in the state over a competing location in Warminster, Pennsylvania, and will consolidate from two leased facilities.
The firm has told the EDA it expects to create 200 new jobs and retain 228 employees in connection with the tax credit, which the authority approved on Aug. 8. The EDA awarded the $12.9 million incentive under the state’s Grow New Jersey program.
“The availability of highly educated, skilled technology professionals in New Jersey has been a tremendous asset to our ability to create a corporate culture that fosters creativity and collaboration,” Billtrust Founder and CEO Flint Lane said. “Support from Grow NJ will help us to expand our presence here in New Jersey and further leverage the local talent pool as we grow.”
Founded in 2001, the firm provides automated invoice-to-cash solutions for the business-to-business market via a proprietary, end-to-end cloud-based solution, according to an EDA news release. Billtrust currently employs more than 400 employees across the U.S. and Canada and recently earned a spot on the Inc. 5000 list for the 11th consecutive year.
The authority touted Billtrust as being among the industries targeted by the incentive program, noting that more than 70 percent of approved Grow New Jersey tax credits have been for projects in technology, energy, finance, manufacturing and logistics.
“Innovative companies like Billtrust play an important role in our economy through the jobs they create as well as the resources they provide to help other businesses succeed,” said Melissa Orsen, the authority’s CEO. “We are pleased that New Jersey’s robust technology ecosystem, and the Grow NJ program, helped to encourage Billtrust to expand and invest in the State.”
