Huntsville tech firm plans $5 million expansion, creating 100 jobs
Geeks and nerds – at least in Huntsville – are cool, successful and successful.
The Huntsville company, which started with just one employee and now has a sign outside its South Huntsville plant recognizable by the funny glasses, is launching a major expansion and will more than double its workforce.
Geeks and nerdsalso known as GaN, plans a $5 million facility at Cummings Research Park and create at least 100 new high-paying jobs.
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Huntsville City Council voted Thursday to approve the project development agreement between GaN and the city.
The city, through the Industrial Development Board, will waive all non-school taxes for GaN for 10 years. The abatement will not include road and bridge taxes administered by the Madison County Commission, according to the development agreement.
GaN is also expected to open a downtown Huntsville location in addition to its location on South Memorial Parkway during the two-year construction process and the city will provide 25 free parking spaces in the Monroe Street parking lot.
And the city will reimburse GaN up to $350,000 for construction costs related to “the initial supply or expansion of water, gas, electric and sewer services” at the new facility of the Cummings Research Park.
The incentives were offered, according to the agreement, to keep GaN in Huntsville as it sought an expansion location.
“It’s always exciting to see an innovative, forward-thinking company like Geeks and Nerds launch a growth project that involves $5.3 million in investment and 100 new jobs,” Governor Kay Ivey said in a statement. . “Our tech sector continues to grow ever more dynamic through entrepreneurial initiatives like this one in Huntsville, and I applaud the company as it embarks on this journey.”
GaN, under the agreement, is required to begin construction by March 23, 2023 and begin operations at the new facility by June 30, 2024. A capital investment of at least 5.3 million dollars is also required.
The 100 new jobs will be added to the 93 already employed by GaN. Under the agreement, each of the new jobs requires an annual salary of at least $90,000 excluding benefits and overtime pay. GaN has five years to grow to 193 total employees under the deal.
“The pace at which our technologies are evolving requires revolutionary thinkers and companies to work together for the common good of the country,” GaN CEO and Founder Jonn Kim said in a statement.
GaN was incorporated in 2004. The company said on its website that it had executed 35 major contracts since its incorporation. Last year, GaN was awarded a $300 million global procurement contract providing test and evaluation support services to the US Department of Homeland Security.
An employee-owned company, GaN has offices in Texas, Florida, Arizona, New York, Georgia and Colorado.
“Our mission is to provide innovative and superior technology solutions to our customers, our nation and our community,” GaN said on its website.
Updated today, March 24, 2022, at 8:07 p.m. with Council approving the Development Agreement.