NC: Prescient Co. to Invest $18.8M, Create 250 Jobs in Commerce Park
1 Sep, 2016
Prescient Co., a construction software company based in Arvada, Colo., plans to build its East Coast headquarters at the North Carolina Commerce Park near Mebane, investing $18.8 million in the facility and creating 205 new jobs in Alamance County.
Prescient offers architectural, engineering and construction companies a proprietary software platform that professionals can use to design a building, typically six to 14 stories high. Once building components are designed, Prescient manufactures sections accordingly and assembles them on site. The company’s East Coast operations center will be its second manufacturing facility.
“Developers, architects, engineers and general contractors in the multi-unit housing industry are seeing the benefits of our platform, and this facility will allow us to efficiently service our customers up and down the I-95 corridor from Maine to Miami by being closer to their markets,” said Satyen Patel, chairman and CEO of Prescient. “The demand for our system across the Mid-Atlantic, the South and Southeastern U.S. continues to grow, and we are looking forward to a long and productive partnership.”
Prescient is eligible to receive up $1.96 million in total North Carolina Job Development Investment Grant (JDIG) payments over 12 years, if it meets its incremental hiring and investment targets for the new facility. JDIGs reimburse new and expanding companies a portion of the new tax base created by the project.
Prescient will bring design, manufacturing and other business operations to the North Carolina Commerce Park, a 1,200-acre business property developed collaboratively by Alamance County and the cities of Graham and Mebane.
The company plans to employ designers, project managers, installers and other skilled positions. Salaries will vary by position, but the average annual compensation will be $46,544. Alamance County’s average wage is $36,346 per year. “These are great jobs that come with excellent pay and benefits,” said state Rep. Stephen Ross.
“Once again, an innovative manufacturing leader has chosen North Carolina to take advantage of our outstanding business climate,” North Carolina Gov. Pat McCrory said. “I love companies that build things and I look forward to the valuable contribution Prescient will make to our state’s economy and business community.”
Prescient also considered sites in Virginia and Georgia for its expansion.
“North Carolina’s outstanding transportation systems and trainable workforce put us on the short list for regional headquarters projects,” said North Carolina Commerce Secretary John E. Skvarla III. “Our strategic mid-Atlantic geography will put Prescient within convenient reach of customers across the eastern United States.”
Prescient’s innovative and integrated design system offers a faster, greener, and more cost-effective alternative than conventional building structures. The company has received 13 patents on its software, integrated manufacturing process and components, and has an active pipeline of 50 new patent filings. The platform is well-suited for multi-unit, mid-rise projects including apartments, student housing, hotels, and senior living. The company has numerous projects completed or under way throughout the country across Colorado, Florida, Texas, Georgia, Illinois, Indiana, Kentucky, Missouri, Nebraska, and North Carolina.
The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina worked with the North Carolina General Assembly, North Carolina Community College System, Alamance Chamber, Alamance County Board of Commissioners, and the cities of Graham and Mebane to make this project happen.