Billtrust, a payment cycle management software company, is about to significantly expand its own payroll.
The company has chosen to establish an 88,759-square-foot headquarters in Lawrenceville after receiving $1.3 million in annual tax incentives from the state’s Economic Development Authority at the beginning of this month as part of the Grow NJ program.
The site was chosen over a location in in Warminster, Pennsylvania, the company announced.
The move is expected to create approximately 200 new jobs in the state, while the company expects to retain all of its 228 current New Jersey-based employees. Most of the new jobs will be for software engineers and tech specialists.
The company is moving from Hamilton, and its new headquarters will be the consolidation of two existing, leased facilities, according to an announcement.
“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,” Flint Lane, the company’s CEO, said in the announcement. “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.”
The company was founded in 2001 and provides automated invoice-to-cash solutions for the business-to-business market. It has over 400 employees nationwide and Canada. Earlier this year, it was ranked as one of the Best Places to Work in the state by NJBIZ.
“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,” EDA CEO Melissa Orsen said. “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.”