More jobs headed to Charlotte as tech company details plans to hire about 200 people

More jobs headed to Charlotte as tech company details plans to hire about 200 people
A rendering of the new office off of Thrift Road, where Charlotte-based artificial intelligence company Stratifyd said Thursday it will move. (Source: Stratifyd via The Charlotte Observer)

CHARLOTTE, N.C. (Danielle Chemtob/The Charlotte Observer) - Charlotte-based artificial intelligence firm Stratifyd said Thursday it will add around 200 jobs in Charlotte, the latest in a spate of technology companies to expand in the city.

The company is investing $3.25 million in its expansion.

The company, which CEO and founder Derek Wang started in 2015, focuses on artificial intelligence-powered data analytics. It employs around 80 people in the area.

As part of the expansion, Stratifyd is moving to an office in an old industrial site along Thrift Road in Wesley Heights. Developer Matt Browder, owner of Browder Group Real Estate is renovate the building, once home to a plumbing supply company.

The announcement was made by company and local officials at UNC Charlotte’s uptown campus.

Wang declined to provide the average salary for the jobs but said they are high-paying. The city is providing about $47,000 in incentives. It was not immediately clear how much county incentives were involved in the deal.

TECH GROWTH

Charlotte has seen a flurry of technology-related expansions in recent months.

Last week, Microsoft said it would invest $24 million to expand its Charlotte campus, adding 430 jobs. Lowe’s selected Charlotte for a 2,000-employee global tech hub this year, which will be housed in a new 23-story tower in South End.

Online mortgage lender Better.com announced in September it planned to hire 1,000 people as part of a new Charlotte office.

The total number of tech jobs in the region grew by 30% over the past five years, a study from the Charlotte Regional Business Alliance found.

The city’s growing technology talent pool was a key factor in Stratifyd’s decision, Wang said. He said his company looked at Toronto, the San Francisco area, Atlanta and other locations before deciding on Charlotte.

“We’re really betting on the economic development in the region,” Wang said.

Tariq Bokhari, a city council member and executive director of the Carolina Fintech Hub, said Wang first came to him to discuss the locations he was considering for the expansion. Bokhari said he worked with the city to convince Stratifyd to grow in Charlotte.

Bokhari said that his group is not just looking to recruit out-of-town companies.

“We’re looking for homegrown companies that are growing rapidly,” he said. “(We) try to make it competitive for them.”