Ames, Iowa, home to Iowa State University, announced the expansion of the technology company Vertex last week. The company is expected to create 300 jobs over the next three years, with many of the jobs exceeding $100,000 per year, and will construct a 60,000-square-foot facility in the Iowa State University Research Park.
Vertex Software is shaping the future of how product development happens in manufacturing. Embracing advances in cloud computing, Vertex is building solutions to improve the speed and quality of collaboration so teams can make better decisions—and get products to market fast.
Vertex is the latest venture from Ames resident and Iowa native Dan Murray. Murray is a serial software entrepreneur and currently serves as CEO and founder of Vertex Software. With Vertex, Murray is disrupting a market that he pioneered in the 1990’s while he was Chief Software Architect at Engineering Animation, Inc. (EAI).
Murray is a co-founder of Workiva and has built six companies in Ames, growing two of them to IPO each with more than $100M annual revenue. He is an expert in cloud computing, software-as-a-service (SaaS), and enterprise sales and marketing. Murray is also an active angel investor. He currently serves in a leadership role with Hyde Park Angels, the Midwest’s largest and most active angel investor group.
Founded in September 2017, Vertex is headquartered at the ISU Research Park in Ames with a rapidly growing team of 65 employees. The Vertex team includes world-class talent with more than 500 years of experience building software products and more than 250 years of experience launching and scaling software companies.
Last Friday the Iowa Economic Development Authority (IEDA) announced funding approval for the Vertex expansion in Ames. Vertex plans to invest more than $32 million in Ames, including $25 million for research and development. The IEDA awarded Vertex $1.5 million in forgivable loans and $1.9 million in tax refunds and credits. The City of Ames is providing $1.3 million in tax abatement for the project.
“This is a blockbuster economic development project that we are thrilled landed here,” said Dan Culhane, President and CEO of the Ames Chamber of Commerce and Economic Development Commission. “Ames continues to make news with projects that expand and embolden our diverse economy. Last year we saw a variety of wins with projects from 3M, Burke Corporation (Hormel), Collins Aerospace, and John Deere, to name a few. Now, we have the enormity of Vertex, whose impact is so significant and continues to underscore our market as a place for world-class software and information technology opportunities.”
The Ames Economic Development Commission (AEDC) organizes and promotes sound economic growth in Ames and central Iowa by stimulating the expansion of existing industry, attracting new enterprises, and assuring a favorable community climate for new ideas and economic growth. To learn more, visit www.AmesEDC.com.
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For More Information:
Dan Culhane | President & CEO | 515-232-2310 | dan@ameschamber.com
Andrea Hammes Dodge | Vice President | 515-232-2310 | andrea@ameschamber.com
