LabTech Software, a Tampa-based IT company, is adding 100 jobs at its Tampa corporate headquarters by 2016 in a strong boost to efforts to lure higher-paying technology jobs to the area.
CEO Matt Nachtrab said he was excited that LabTech Software could contribute to a growing IT presence in Tampa Bay. "Tampa has become our home, and we're thrilled that our commitment to the growth of the LabTech product and our commitment to the local economy can go hand-in-hand," he said in a statement.
"LabTech's expansion and creation of 100 new jobs means even more Floridians in the Tampa area will be able to provide for their families and live the American Dream," Gov. Rick Scott said in announcing the expansion. "We've worked hard to create an opportunity economy with jobs for the next generation."
The company, which is pledging to make a capital investment of $644,000, has been promised a combined local and state incentives package worth $500,000. In March, Hillsborough County and the Tampa City Council approved an incentive package of $100,000, added to $400,000 coming from Florida's Qualified Target Industry program.
The funds, which are to be distributed over six years, will only be paid out if the company meets a pledge to create jobs at the promised minimum average wage of nearly $50,000.
"The competition for IT jobs is fierce, and this project was no exception," said Allen Brinkman, chairman of the Tampa Hillsborough Economic Development Corp. and president and CEO of SunTrust Bank Tampa Bay.
As the Great Recession drew to a close, most of the newly created jobs in Florida were initially in lower-paying industries like retail, tourism and home health care. More recently, the job growth has broadened with categories like professional and business services and construction posting larger gains.
Jesse Panuccio, executive director of the Florida Department of Economic Opportunity, attributed any growth in STEM jobs, such as those at LabTech, to "our investment in a business-friendly environment, infrastructure and workforce training."
Founded in 2004, LabTech has a total of 350 employees, most at its primary facility on George Road in Tampa. Its software, which is used by more than 4,200 IT service providers globally, helps clients monitor and manage their IT environments remotely and automate any IT task through a single console.
The new positions — which feed a growing demand for LabTech's services — include software development, sales, client support and marketing.