RALEIGH, N.C., April 7, 2020 /PRNewswire/ -- Bandwidth Inc.
(NASDAQ: BAND) ("Bandwidth"), a software company focused on
communications for the enterprise, today announced that the Company
was approved to purchase a 40-acre plot of land from the
State of North Carolina for
$30 million to build a new
headquarters location for the Company.
The North Carolina Council of State approved the NC Department
of Administration to sell the land to the Company. The land is
located at the southwest corner of Reedy Creek Rd and Edwards Mill
Rd and is currently managed by the NC Department of Agriculture
primarily for State Fair parking. As part of the transaction,
Bandwidth will agree to improve parking capacity and function for
the NC State Fair. The transaction is pending a formal purchase and
sale agreement between the Company and the State and is subject to
due diligence.
"As an essential Nationwide service provider of 911, voice calls
and text messages headquartered here in North Carolina, we are proud to have kept up
with the unprecedented levels of demand for communications services
during this challenging time," said David
Morken, founder & CEO of Bandwidth. "We're enabling a
more connected world at a time when people everywhere need it
most. Our mission is critical, and we remain steadfast in
continuing to execute on that mission for the people of
North Carolina and all
Americans."
"We are proud to be North
Carolina raised! Deeper roots in our vibrant community
will support our growing customers and our flourishing team,"
Morken continued. "We've been scouting for ideal ground on which to
cultivate our bright future, a place to plant innovative seeds of
thought and to harvest success for our customers for many seasons
to come. And we are thrilled to support the North Carolina State
Fair. What a blessing to build our new headquarters in such
an incredible spot in Raleigh,
just minutes from Umstead State Park and with easy access to so
many other parts of the Triangle."
Bandwidth has committed to hire 1,165 new employees over the
next eight years. The Company will receive up to $32 million from the State in a North Carolina
Job Development Investment Grant over a 12-year period starting in
2024, if the Company meets the hiring requirements.
"Though the current backdrop is highly challenging for everyone,
the Commerce Department is proud to continue carrying out its
mission – and that includes helping companies execute strategic
growth plans that involve North
Carolina," said North Carolina Commerce Secretary
Anthony M. Copeland. "Today's
announcement by Bandwidth showcases the resiliency and reliability
of our state and its renowned economic assets – especially our
tech-savvy workforce."
"Our City and our world is going through an unprecedented
challenge," said Raleigh Mayor
Mary-Ann Baldwin. "Despite this,
companies like Bandwidth still want to grow and expand here –
and call Raleigh home. We
appreciate this commitment to grow jobs here, as well as the
company's philanthropic spirit and its leadership in the innovation
space. In particular, I want to thank David
Morken and his team for looking at creative ways to develop
the Bandwidth Campus while delivering an asset that will benefit
the entire community."
About Bandwidth
Bandwidth (NASDAQ: BAND) is a software
company focused on communications for the enterprise. Companies
like Google, Microsoft, Cisco, Zoom and RingCentral use Bandwidth's
APIs to easily embed voice, messaging and 911 access into software
and applications. Bandwidth is the first and only CPaaS provider
offering a robust selection of communications APIs built around
their own nationwide IP voice network – one of the largest in the
nation. More information available at www.bandwidth.com.
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SOURCE Bandwidth Inc.