Vertex Software plans to add 300 new jobs in Ames as it launches its core cloud-based product for manufacturers later this year.

Dan Murray, Vertex CEO, founded the company in 2017 following his experience at two other successful ventures: He was a co-founder of WebFilings, now known as Workiva, an Ames-based publicly traded company that offers business software for reporting, compliance and data management. Before that, he worked at Engineering Animation, an Ames software company that was later acquired by Unigraphics Solutions.

Vertex plans to invest more than $32 million in Ames, according to documents filed with the Iowa Economic Development Authority. That includes $25 million for research and development, $1.8 million on computer hardware and software and $4.5 million for capital lease costs.

The Iowa Economic Development Authority awarded Vertex $1.5 million in forgivable and zero-interest loans and $1.9 million in tax refunds and credits. The authority's board unanimously approved the incentive package Friday morning.

In total, the project sought nearly $5 million in state and local economic development incentives. That includes an expected tax abatement from Ames worth about $1.3 million.

Debi Durham, director of the Iowa Economic Development Authority, said the project was especially promising given Murray's expertise in the space: "He has a proven track record," she said at Friday's meeting.

"I think its going to be very disruptive to the manufacturing space," she said.

In exchange for its incentives, Vertex has pledged to create 300 new jobs, which must pay a minimum of $26.11 per hour.

"Most will be well over that," Murray said. "Currently, our average salary is north of six figures."

The company, located in the Iowa State University Research Park, currently employs 66 full-time employees. Murray said he's recruited people from Iowa, Silicon Valley, Houston, the Twin Cities, Denver and Chicago.

Vertex plans to enter a long-term lease on a 60,000-square-foot, $20 million building in Ames, according to state documents.

Murray said he couldn't share specific details about the company's new software offering. But he said it will improve collaboration and streamline the design process for manufacturers. He formed the company after a good friend approached him with challenges inherent in the manufacturing industry.

Murray said the company will hire software engineers, IT workers, product managers, and marketing and customer service workers. He said he's invigorated by the chance to build another software firm in Iowa.

"For me, every new business I build is more exciting than the last. It's not daunting," he said. "What we have is a team of people who have been there and done it before."

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