Vertex Software receives state funding to bring jobs to Ames, plans to launch product Q2 2019

The Iowa Economic Development Authority has awarded Vertex Software $1.5 million in forgivable and zero-interest loans and $1.9 million in tax refunds and credits.

In return, Vertex will invest $32 million into Ames, promising to create 300 jobs, all of which will pay at least $26.11 per hour.

Since forming in September 2017, Vertex has quickly grown and is now up 70 employees.

“We’re gonna be doubling in 2019 and expect have between 130 and 150 employees at the beginning of next year,” said Dan Murray, CEO and founder of Vertex Software. “Then, looking ahead to 2020, we’ll likely be doubling again. As you grow and as the market starts to pick up, you have to scale fast.”

Vertex Software’s product, a cloud-based software platform that will allow manufacturers to collaborate throughout the extended enterprise, is expected to launch in Q2 of this year, Murray told Clay & Milk. The product will enable users to securely share 3D product data to any computing device.

“We’re stealth right now and just weeks away from our product launch,” Murray said. “I can tell you our marketing team would not be very happy with me if I told you a lot about what we’re doing.”

Vertex also plans to build and lease a 60,000-square-foot building in Iowa State University’s Research Park. The new facility would carry an estimated value of $20 million.

As far as deciding to base in Vertex in Ames goes, Murray says it was an obvious choice.

“I’ve traveled the world and there’s just a really unique talent in Iowa,” Murray said. “People here have really high intelligence, intense work ethic and intense loyalty. You couple that with the educational system in the state and the community we have here. I can’t really think of any place I’d rather build a business.”