{"id":1004067376,"date":"2013-02-17T07:38:28","date_gmt":"2013-02-17T15:38:28","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=102868"},"modified":"2022-12-09T02:19:33","modified_gmt":"2022-12-09T10:19:33","slug":"paycom-plans-11-8m-expansion-of-w-memorial-rd-headquarters","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/paycom-plans-11-8m-expansion-of-w-memorial-rd-headquarters\/","title":{"rendered":"Paycom Plans $11.8M Expansion of W. Memorial Rd. Headquarters"},"content":{"rendered":"

By Gabriel Circiog, Associate Editor<\/em><\/p>\n

Paycom plans to break ground next month on an $11.8 million expansion of its Oklahoma City headquarters, the payroll and human capital management technology company said on Feb. 13. The addition would augment the 90,000-square-foot headquarters that Paycom opened at 7501 West Memorial Rd. in Aug. 2011, which is expected to reach capacity late next year. \"\"<\/a><\/p>\n

City officials are weighing a proposal to provide $1.25 million in economic development incentives in connection with the expansion, newsok.com <\/em>reported. Paycom estimates that the expanded headquarters will house nearly 700 workers.<\/p>\n

The incentive package would follow a 2010 agreement under which the city approved $2 million worth of incentives and Paycom promised to create 492 new jobs. Since then, Paycom has created 186 jobs, the company said in a statement. The company will be eligible for the new incentives after it has fulfilled its prior job-creation commitment, Brent Bryant, manager of the city\u2019s economic development program, told newsok.com. <\/em><\/p>\n

\u201cPaycom\u2019s growth is further proof of Oklahoma City\u2019s progression,\u201d commented Oklahoma City Mayor Mick Cornett said. \u201cThese additional, well-paying jobs will have a major impact on our increasingly diverse economy. They are a great example of how a company can thrive in this market.\u201d<\/p>\n

Based on capital investment, state and local taxes as well as average first-year wages of close to $40,000, Paycom\u2019s expansion will have an estimated economic impact of $143 million over the first five years. \u201cOur growth is a testament to our focus on customer service and developing innovative solutions to streamline the HR process,\u201d said Paycom CEO Chad Richison.\u201d<\/p>\n

Photo Courtesy of: www.paycomonline.com<\/em><\/p>\n

\/em<\/p>\n","protected":false},"excerpt":{"rendered":"

Paycom has recently announced plans to expand its operations in Oklahoma by adding an $11.8 million fully-equipped building adjacent to its current headquarters in Oklahoma City. The payroll and human capital management technology company is expected to house around 700 additional employees in the new building. A groundbreaking ceremony is scheduled for March 2013.<\/p>\n","protected":false},"author":264,"featured_media":1004506886,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004067376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"acf":[],"yoast_head":"\nPaycom Plans $11.8M Expansion of W. Memorial Rd. 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