Insurance and benefit software company Vitech Systems Group Inc. announced Monday it is expanding its Northeastern footprint with a new location in the Iselin section of Woodbridge.
The company expects to occupy its 20,000-square-foot, built-to-suit office in April, relocating 50 jobs from its New York headquarters and hiring 50 additional employees.
Vitech spokeswoman Karen Stevenson said the company chose Iselin for its convenient transportation access and the technology talent pool in New Jersey.
“We have a lot of exciting new opportunities, including some new markets for our software products, and we’re on a steady growth path,” Stevenson said. “We definitely needed to expand our team.”
The expansion project was facilitated with the New Jersey Partnership for Action, the three-pronged team of Choose New Jersey, the Economic Development Authority and the Business Action Center.
Lt. Gov. Kim Guadagno said the EDA was given a lead from Wolff & Samson that Vitech was looking to relocate in another state, and provided site selection and incentive information to the software company. Guadagno said Harrisburg and Scranton, Pa., were in the hunt, in addition to Long Island City, N.Y.
Guadagno said once the company gets established in New Jersey, it will receive a $1.35 million Business Employment Incentive Program grant over 10 years, based on the number of jobs created.
“This is one of the six targeted areas we’ve identified as future growth for New Jersey,” Guadagno said. “This will be a financial services software industry cluster we are trying to attract to New Jersey because we have the power and the infrastructure to support those kinds of jobs.
“This is exactly the type of job our educated work force is looking for, and is skilled to do,” Guadagno added, noting that the average salary for a Vitech employee is $100,000.