A growing technology company is moving its headquarters to Blue Ash.
CoStrategix, a digital and data solutions company that provides consulting, data and artificial intelligence, applications and platforms, and tech modernization services, is moving from Sycamore Township to a 10,000-square-foot office at 4450 Carver Woods Road. The company expects to relocate to this larger space in April and expand its workforce by 30% to 40% this year.
Nan Jayaram, CEO of CoStrategix, said the Covid-19 pandemic has accelerated digital technology across all industries.
“Companies started to recognize technology as a central factor for any business today,” Jayaram told me. “I don’t have to tell CEOs and leadership teams they have to spend on technology and digital and AI, they get it.”
CoStrategix provides a one-stop shop that can help companies from strategy to execution. As demand for CoStrategix’s services has grown, Jayaram also is looking to increase market share. To grow his team, he wants to maintain the firm’s culture.
One way to do that is to build a space that resonates with employees.
“Having a good space where the collaboration can occur becomes very important,” Jayaram said.
CoStrategix will remain highly flexible in terms of where its employees will work, but the idea for the new office is that it will provide a comfortable space to build a strong bond between fellow “Gixers,” the term Jayaram uses for his employees,
Maintaining the company’s culture, especially when looking to add employees, is difficult without in-person interaction, Jayaram said.
“When you’re adding 30% new headcount, how will you get to know each other?” he said. “Zoom only does that in two dimensions.”
The office at 4450 Carver Road, which is three times larger than its current 3,000-square-foot space, will have fewer cubicles than local employees today. However, it will have a mix of individual spaces where employees can close the door and work, as well as spaces for two to four people and spaces with room for up to 30.
CoStrategix has about 130 total employees, including 30 in the U.S. and about 100 in India at an engineering center. Jayaram is looking to hire about 20 employees in Blue Ash.
While CoStrategix does not disclose revenue, Jayaram said the company had been growing at about consistent rate before the pandemic. Last year, revenue grew about 45% and Jayaram expects growth could accelerate in 2022.
The city of Blue Ash has agreed to provide CoStrategix a $50,000 forgivable loan in exchange for committing to create $4 million in annual payroll, which will provide $50,000 a year in earnings tax to the city. As part of the agreement, CoStrategix is required to stay in the city of Blue Ash until it has paid back 2.5 times the forgivable loan amount.
Neil Hensley, economic development director for the city of Blue Ash, said the city is “a great place for fast-growing tech companies to succeed.”
“We are excited to see the compounding effect that CoStrategix brings to the market, as they help other companies grow and succeed through digital and data transformation,” Hensley said in a news release.
Peter Snow, executive managing director with Cushman & Wakefield, represented CoStrategix in the lease, with Adam Simon, vice president with the Everest Group Inc., representing the landlord.
Jayaram said he was attracted to Blue Ash because of the city’s central location and the ease of working with the city.
CoStrategix is working with Platte Architecture + Design on the design of its new office space. Hunt Builders Corp. is building out the office space.
CoStrategix started 15 years ago by helping startups shape ideas into digital technology platforms. Today, the company helps growth-focused organizations, from mid-market firms to Fortune 500 companies, to elevate their business models by incorporating digital technologies to drive new revenue streams, operational efficiencies and overall competitive advantages.
