Billtrust, a payment cycle management software company, has accepted $12 million in tax credits to expand its operations and move its headquarters from American Metro Boulevard in Hamilton to Lenox Drive in Lawrence — instead of to Bucks County, Pennsylvania. The state Economic Development Authority has approved Grow New Jersey tax credits to support the expansion.
Billtrust plans to establish a new 88,759-square-foot headquarters on Lenox Drive. The company, which is consolidating existing operations from two leased facilities, says it expects to create 200 new jobs in the state and retain 228 employees. The tax credits are dependent on those jobs materializing.
“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,” said Billtrust founder 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.”
The company did not announce which address on Lenox Drive it was moving to, and had not responded to a phone call and e-mail from U.S. 1 as of press time.
Billtrust currently employs more than 400 workers across the U.S. and Canada. Founded in 2001, the company has grown rapidly since 2007, acquiring other companies in its field and opening operations centers around the country. Billtrust specializes in providing automated invoicing and statement systems for small and medium-sized companies.
Billtrust, 100 American Metro Boulevard, Suite 150, Hamilton 08619. 609-235-1010. Flint Lane, CEO. www.billtrust.com.