Paylocity, an Illinois company, said Thursday that it will hire at least 500 employees in a new Boise office over the next five years.
The company would likely hire between 15 and 20 employees by the end of January and grow to about 75 by the end of 2016, said Jay Schedler, vice president of human resources.
“We know we could start faster, but that doesn’t necessarily set up the right foundation,” he said. “Boise is a long-term play for us, not a short-term gain. We have time to make sure we build it the right way.”
Paylocity sells cloud-based software services that can be customized for companies that need help with payroll, human resources, taxes and benefits administration. It targets midsize business clients with between 50 and 1,000 employees, Schedler said. The publicly owned company is based in Arlington Heights, a suburb of Chicago.
Idaho has approved the company’s application to receive the state’s new business-tax incentive. Under its agreement with the state, Paylocity will be reimbursed 28 percent of its income, payroll and sales tax for 15 years, an estimated value of $5.9 million, according to the Idaho Department of Commerce.
The reimbursements will be made only if the company meets hiring and wage benchmarks. The department said the jobs will pay an average annual wage of $46,200, or more than the $43,200 Ada County average wage that serves as the qualification floor for the tax break. The floor varies by county.
About 60 percent of Boise employees will work in client services positions, Schedler said. The remaining 40 percent would be split among areas such as human resources, software development and integration departments, he said.
Boise beat sites on Paylocity’s final list in Denver, Tucson, Ariz., Tulsa, Okla. and Provo in Utah, Schedler said.
Paylocity is interviewing and hiring immediately, with plans to open its Boise office in January on the fourth floor of the C.W. Moore Plaza at 250 S. 5th St. That building is also home to the Boise Metro Chamber of Commerce and its economic-development arm, the Boise Valley Economic Partnership.
As a software-and-services company, Paylocity is able to move fast to start operating, Commerce spokeswoman Megan Ronk said. “They are able to ramp up quicker than some of the other projects that need to build or rehab a facility,” Ronk said.
Those interested in applying for jobs can go to the careers section of the company’s website.
The announcement concluded a seven-month site-selection process.