AvidXchange, a cloud-based accounts payable and payment automation software provider headquartered in Charlotte, North Carolina, is moving its expanded western U.S. headquarters from Holladay to Sandy. The new office is located in Sandy Towers, a new 150,000-square-foot office building located at the Trax Station off of State Street and Sego Lily Drive.
AvidXchange received a tax incentive from the state of Utah in September and as part of the incentive agreement, the company expects to create over 200 jobs over the next five years. The new office is designed to accommodate this growth.
In a press statement, AvidXchange said it selected Utah for expansion because of its “rich talent pool and vibrant tech community.” AvidXchange acquired Utah-based Piracle Inc. in 2015 and has maintained employees in the state since that time. Employees currently working in the Holladay office will be making the move to the new building when it is completed in the spring.
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AvidXchange compared its new location to the area in Charlotte where the company’s main office is located. “It was important to the company to locate an area of Utah that had many of the same qualities and access to transportation, restaurants and entertainment for employees. Sandy and the Salt Lake City region possessed all of these qualities, and AvidXchange is pleased to be a part of the growth and expansion of this area.”
“AvidXchange is thrilled to expand our operations in Utah, and feel that Sandy is an ideal location for the home of our expanded operations,” said Michael Praeger, CEO and co-founder of AvidXchange. “Sandy is a great metropolitan region with a lot of energy and focus on economic development, which is the perfect match for AvidXchange. We believe that our site selection will be a competitive advantage for us in hiring the best talent in the area with convenient access to public transportation and many restaurants and attractions within walking distance to help with the work/life balance that we strive for at AvidXchange. We’re looking forward to finding the best and the brightest in Utah to add to our team.”
AvidXchange has chosen Lehi’s Stack Real Estate help facilitate the move to the new facility. “We’re looking forward to working on this project with AvidXchange to help build an out-of-the-box experience for their employees in Sandy,” said Andrew Bybee, owner of Stack Real Estate. “It’s a great location, and when we saw the type of amenities and efficiencies that AvidXchange was looking for in their new headquarters, we knew that this was going to be a great match.”
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