BuildOps Set to Boost Raleigh’s Tech Landscape with New Operations Hub
In a significant development for Raleigh’s tech sector, BuildOps, Inc. has announced plans to establish an operations hub in the city, creating 291 jobs. The company, known for its software platform tailored for commercial trade contractors, will make an investment of $771,200 in Wake County.
Governor Josh Stein highlighted North Carolina’s strong tech talent pool as a key factor in attracting BuildOps. “North Carolina offers companies like BuildOps a deep pool of tech talent,” said Governor Josh Stein. “North Carolina’s education and workforce training programs deliver the skilled people companies rely on to succeed in today’s competitive marketplace. We welcome this veteran-owned business to North Carolina.”
Founded in 2018, BuildOps provides a software-as-a-service platform specifically designed for commercial trade contractors, including HVAC, plumbing, mechanical, and electrical professionals. The new hub in Raleigh will be the company’s third, joining existing locations in Los Angeles and Toronto, to support its expanding customer base.
Alok Chanani, Co-Founder and CEO of BuildOps, expressed enthusiasm about the expansion. “We’re thrilled to establish our newest operations hub in Raleigh, a city known for its exceptional talent pool, innovation-driven ecosystem, and strong commitment to business growth,” said Alok Chanani. “This expansion is an important step in our ongoing mission to revolutionize the commercial trade industry, and we look forward to becoming an integral part of the thriving Raleigh community.”
Commerce Secretary Lee Lilley noted the state’s impressive tech sector growth, which has outpaced the national average. “North Carolina’s tech sector has grown by 25% since 2018, outpacing the national average,” said Commerce Secretary Lee Lilley. This growth has created an environment that attracts companies like BuildOps, which are seeking a skilled workforce.
Salaries for the new jobs will vary, but the average annual salary is expected to be $110,997, significantly higher than Wake County’s average wage of $76,643. This will result in an annual payroll impact of over $30 million in the community.
The company’s project is supported by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over its 12-year term, the project is anticipated to enhance the state’s economy by $701.7 million. The JDIG agreement allows for potential reimbursements to BuildOps up to $1,839,000, contingent upon the company meeting its job creation targets, with state payments triggered only after performance verification.
The project’s return on investment for the state is projected at 78 percent, meaning each dollar spent could generate $1.78 in state revenue. JDIG projects, such as this one, are designed to result in positive net tax revenue, benefiting the state treasury even after grant reimbursements.
Additionally, because the new hub is located in Wake County, categorized as Tier 3 in the state’s economic tier system, the JDIG agreement will allocate $613,000 to the state’s Industrial Development Fund – Utility Account. This fund aids rural areas in upgrading infrastructure to attract businesses, ensuring that even as jobs are created in more prosperous counties, economically challenged communities benefit as well.
Senator Jay Chaudhuri expressed support for the expansion, stating, “I’m pleased to see a fast-growing company like BuildOps plant their flag in Raleigh.” Representative Cynthia Ball also praised the collaborative efforts that secured the project for Raleigh. “Congratulations to the many economic development organizations and allies that demonstrated great teamwork to win this project for Raleigh and the greater Research Triangle region,” said Representative Cynthia Ball.
This project was facilitated through collaboration with multiple organizations, including the North Carolina Department of Commerce, the Economic Development Partnership of N.C., the North Carolina General Assembly, the North Carolina Community College System, and several local entities, all working together to support Raleigh’s economic growth.
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