Vsimple, a software as services firm, announced its intent to relocate its corporate headquarters to a facility at 318 E. Fourth St. in downtown New Albany, Indiana.
The company plans to invest more than $1.8 million in improvements, lease payments, equipment, hardware and software, according to a news release from One Southern Indiana. The move will create 70 full-time, salaried positions by 2025, with a focus on research and development, sales and marketing, and customer success. These are high-paying positions with compensation well above the average wage for Floyd County, the release said.
“Vsimple is challenging the status quo in so many ways; choosing the space we did in New Albany, Indiana, really fits the way we operate,” Buddy Bockweg, CEO and co-founder of Vsimple, said in the release. "We want to be a tentpole in this community for many years to come and are excited about the numerous advantages within it, including a large pool of talent."
Based on the company's job-creation plans, the Indiana Economic Development Corp. committed an investment in Vsimple of up to $1.1 million in the form of incentive-based tax credits. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The company also will request $120,000 in training grants to be considered by the New Albany Redevelopment Commission at its meeting Nov. 9.
VSimple was founded in late 2020 in New Albany. Its platform, which launched in April, is designed to simplify workflow communication between manufacturers, distributers and their customers.
We reported in June that the company had seen recent growth and was up to eight employees. At the time it had appointed two new strategic advisers: Alex Reed, co-founder and former chief marketing officer at Truman's, and Ric Sinclair, chief commercial officer at Waystar.
"Indiana's reputation as a hub for innovation continues to grow as high-tech companies like Vsimple choose our state for their headquarters and continued expansion," Dave Roberts, executive vice president of entrepreneurship and innovation for the IEDC, said in the release. "The state of Indiana is placing an enhanced focus on supporting entrepreneurial companies and growing our tech ecosystem, and we are thrilled to support Vsimple and help the company achieve even more in the years to come."
“New Albany continues to build a reputation for creating the atmosphere and infrastructure that are essential to attracting and retaining dynamic companies. Vsimple’s announcement is further proof that our hard work and commitment are paying off for the city and the region,” New Albany Mayor Jeff Gahan, said in the release. “I am excited about the company’s decision and look forward to many years of continued success and growth for our friends at Vsimple.”
Wendy Dant Chesser, president and CEO of One Southern Indiana said, “The fact that Vsimple chose southern Indiana for their corporate headquarters and future growth speaks volumes about our region, our workforce and our leadership. Vsimple’s focus on software solutions to streamline internal processes makes them an ideal fit for the dynamic manufacturing and distribution base in this area and beyond. As always, 1si looks forward to working with them in any way we can to help ensure their continued success.”
Vsimple provides end-to-end systems for manufacturers and distributors encompassing record management, internal coordination, customer communication and data insights.
