Netchex, the payroll services company headquartered in Mandeville, announced today that has leased 30,000 square feet and plans to spend $5.3 million on its new HQ in Mandeville. The company has not yet released the location for the new HQ.
The company plans to hire an additional 240 people at the new offices.
According to the State, the new move will retain 86 jobs and create 240 new positions with an average salary of $43,800 plus benefits.
Netchex was founded in 2003 by Will Boudreaux and Stuart Ethridge and now services 3,000 clients nationwide.
The Louisiana Economic Development office has been discussing the plans with Netchex since January. To secure the headquarters expansion, the state offered an incentive package that includes the services of LED’s FastStart workforce development program, according to the release.