LAWRENCEVILLE, NJ—Grow New Jersey tax credits have tipped the scales for another technology company weighing a relocation to the Garden State. This time, Billtrust, a payment cycle management software company, agreed to expand its operations and workforce in New Jersey in return for a ten-year, $12.9 million Grow New Jersey tax credit by the New Jersey Economic Development Authority Board.
Founded in 2001, Billtrust provides automated invoice-to-cash solutions for the business-to-business market via a proprietary, end-to-end cloud-based solution. The company will relocate its headquarters to a new 88,759-square-foot facility in Lawrenceville, NJ instead of in Warminster, PA. Billtrust, which is consolidating existing operations from two leased facilities, expects to create 200 new jobs in the State and retain 228 employees.
“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,” says Billtrust counder and CEO Flint Lane. “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.”
“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 says. “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.”
Billtrust employs more than 400 employees across the US and Canada.