There was only one thing Adam Boyes could not figure out on his scouting mission to Nashville: Where were all the video game developers?
Boyes, co-CEO of Iron Galaxy Studios LLC, announced Wednesday that his company will be bringing 108 of those jobs to Music City in the next five years. Nashville will become Iron Galaxy's third office, in addition to its home base of Chicago and an Orlando operation.
"When we started in Chicago, there were only two small studios. It wasn't a burgeoning tech hub. Orlando was the same. We like to take a city by storm and develop local talent," Boyes said in an interview, describing the company's "pioneer vision."
"Nashville really sang to us. We were shocked it wasn't attracting more game developers. We kept scratching our head: 'Why hasn't anyone made a move yet?' " Boyes said. "We wouldn't mind being the ones to plant the first flag and hope we can turn it into a new video game hub for the future."
Iron Galaxy is indeed an unusual kind of tech addition to Nashville, as the region has but a small roster of companies in the video game space. Overall, its tech sector is relatively small compared to other U.S. metros — but it's also the fastest-growing over the last five years, according to research from CBRE Group Inc. (NYSE: CBRE).
Why now: Iron Galaxy mainly does contract work for other video game companies, which means it's working on many games at once — more than 65 in its 13-year existence. Iron Galaxy also is creating its own game named "Rumbleverse" (it's aiming for a release this year, but doesn’t have an exact date yet). The 13-year-old company has 250 employees, more than double its pre-pandemic headcount. That spurt is propelled by a rise in video-game playing during the pandemic, and consolidation across the industry that "creates relationship breakages," Boyes said — new opportunity for Iron Galaxy to pick up clients.
Why Nashville: Executives trimmed an initial 20-city list to Nashville, New Orleans and Las Vegas. Boyes liked Nashville's relative centrality between Chicago and Orlando. "The vibrancy of the city will be a huge lighthouse for people wanting to experience a fantastic culture," Boyes said. "When you say Nashville, people's faces light up. That's what I love about it." Some current employees will relocate, while Boyes will look to recruit new hires from around the U.S. and overseas — as well as tapping the region's 20 colleges and universities.
Where he ate: Boyes made sure to eat at The Chef & I, a Nashville restaurant that expanded to Orlando last year. And of course, he also ate Hattie B's and Prince's Hot Chicken.
The jobs: Iron Galaxy's 108 Nashville jobs equal almost 45% of the company's existing 250 employees in Chicago and Orlando. The company already lists Nashville job openings on its website, including technical artists, gameplay designers, software and graphics engineers, and quality assurance testers. Top-end salaries could reach into the high $100,000s, Boyes said. "We're looking for the whole entire swath," he said. "We want people to have FOMO: Come to Nashville, hang out with us."
But, where? Nationwide, the tech sector is fueling demand for office space at a time when many other companies are still idling on bringing their workforce back on a regular basis and uncertain how much space they'll need in the future. Iron Galaxy hasn't settled on a building yet, though Boyes and colleagues have done many tours with brokerage firm JLL. Boyes said he will wait for some colleagues to relocate before making a group decision. He expects to be in a similar range as his Chicago footprint (33,000 square feet) and his Orlando office (26,000 square feet).
And, why? "It's kind of like making a movie remotely," Boyes said. "You can't really do that. You need people together. Part of our culture and our strength is we really appreciate work-life balance. We've obviously had to handle things remotely but it's had a very heavy mental-health impact on many people. We thrive and succeed the most, and have the most creative breakthroughs, when we're together. So our thought was let's add a new contender that we think will titillate and impress many people out there."
Incentives: A spokesperson for Iron Galaxy declined to disclose the amount of incentives the company is receiving from the state and the Tennessee Valley Authority electric utility. A spokesperson for the state Department of Economic and Community Development also declined. The department normally posts such information on its website within a month of announcing a jobs deal.
