News Summary
BuildOps has chosen Raleigh, North Carolina, for its new tech hub, promising 291 high-paying jobs with an average salary of $111,000. The total investment is projected to be $771,000, significantly boosting the local economy. The company aims to complete hiring by 2029 and is actively seeking office space in downtown Raleigh, a promising sign for local commercial growth. Governor Josh Stein highlights this development as a contributor to North Carolina’s thriving tech scene, which has experienced 25% growth since 2018. This news brings optimism for Raleigh’s future economic landscape.
North Carolina has officially welcomed BuildOps, a construction software company based in Los Angeles, to its capital city of Raleigh, where the tech hub is projected to bring in 291 high-paying jobs. The announcement was made during a recent meeting of the North Carolina Economic Investment Committee, emphasizing the significant impact this investment will have on the local economy.
The new operations hub in Raleigh is expected to create nearly 300 employment opportunities with an average salary of $111,000, well above Wake County’s average salary of $76,643. The company aims to complete the hiring of the 291 employees by the end of 2029. Overall, the project is anticipated to have an annual payroll impact exceeding $30 million, illustrating the substantial economic benefit the hub will provide.
With an investment totaling approximately $771 million expected by the end of 2029, BuildOps will establish its largest office out of its current locations in Los Angeles, Toronto, and now Raleigh. The selection of Raleigh over competitors like Austin, Texas, was influenced by the city’s rich concentration of tech talent and educational institutions. BuildOps intends to expand beyond the original 291 hires, indicating a promising future for job creation in the area.
In terms of financial incentives, BuildOps will benefit from a Job Development Investment Grant (JDIG) valued at up to $2.8 million, with $1.839 million allocated specifically for job creation, contingent on meeting performance criteria. Additionally, local incentives amounting to $87,300 have been approved, further aiding the company’s establishment in the region. The incentives also include provisions from the state’s Industrial Development Fund, aimed at upgrading infrastructure in rural areas.
The anticipated impact on North Carolina’s economy is noteworthy. The project is projected to contribute approximately $702 million to the economy over the 12-year span of the incentives agreement. The expected growth builds on the state’s already flourishing tech sector, which has experienced a 25% increase since 2018, as noted by local government officials. This expansion not only supports the technology industry, but also encourages infrastructure development, providing a reinforced outlook for the local economy.
The need for office space within Raleigh has been highlighted, with the city’s office vacancy rate currently at about 15.4%, a significant rise from 5% at the beginning of 2020. This increase in vacancies pinpoints a demand for revitalization in the commercial real estate market, especially in the wake of the pandemic. BuildOps’ decision to locate its operations hub in downtown Raleigh could play a pivotal role in addressing this need.
In conclusion, the establishment of BuildOps in Raleigh is set to enhance job availability, raise average salaries, and stimulate economic growth in North Carolina. The influx of jobs in the tech sector, in combination with significant financial incentives and a strategic location within an expanding market, positions the region for a prosperous future as it adapts to the evolving landscape of the technology industry.
Deeper Dive: News & Info About This Topic
- WRAL: Construction Software Company Plans New Raleigh Hub
- ABC11: BuildOps Comes to Raleigh
- Goldsboro Daily News: BuildOps to Create Jobs in Raleigh
- Access Newswire: BuildOps Expands to Raleigh
- Axios: BuildOps Startup Hiring in Downtown Raleigh
- Wikipedia: Raleigh, North Carolina
- Google Search: BuildOps
- Google Scholar: BuildOps
- Encyclopedia Britannica: Construction Software
- Google News: BuildOps Raleigh
Author: STAFF HERE GEORGETOWN
About the HERE Georgetown Staff Writers The HERE Georgetown Staff Writers are a dedicated team of local journalists and contributors focused on delivering accurate, timely news to the Georgetown, SC community. As part of the HEREcity.com Network—which powers over 100 U.S. city sites including HEREcolumbia.com—we cover everything from waterfront development and small business news to dining and local culture. Local Expertise Our team includes lifelong Georgetown residents and South Carolina natives with deep knowledge of the region’s history, economy, and coastal identity. We’ve reported on topics like Front Street revitalization, maritime heritage, and local education initiatives. Trusted Journalism With decades of combined experience, we prioritize fact-based reporting, drawing from city records, chamber data, and community voices. Every article is a team effort, researched and verified to meet high editorial standards.
