Charleston Regional Development Alliance

Berkeley, Charleston & Dorchester Counties

Printed from www.crda.org

Benefitfocus.com expands headquarters on Daniel Island

Jun. 1, 2005
For Immediate Release
June 24, 2005 – The Charleston region will benefit from the relocation and expansion of a local software company, whose position in the $1.6 trillion healthcare industry has driven the company to become the fastest growing technology company in South Carolina. Benefitfocus.com, Inc., the leading provider of software and services for national insurance carriers, announced today that it will expand its corporate offices to a new $16 million facility on Daniel Island. Today’s announcement was facilitated by the Charleston Regional Development Alliance.

“Benefitfocus saw 236 percent growth last year, and this trend is projected to continue,” says Mason Holland, co founder and Board Chairman of Benefitfocus.com. “Being located in Charleston has certainly contributed to our continued success, and a new, larger facility designed specifically for our needs will allow the company to both expand and increase operational efficiencies.”

Since it opened its doors in 2000, Benefitfocus.com has been a leading provider of employee benefits software and services for large insurance carriers and their business clients. Currently its list of clients insures over 12.5 million people representing 89,000 companies. Benefitfocus has members in all 50 states that use its software, as well as in eight countries as far away as Japan, Mexico, Chile and Poland. The company recently expanded its presence in the Upstate with a new facility in Greenville.

“The new office complex will be composed of two buildings totaling 143,000 square feet of Class A office space. The first building, with 65,000 square feet, will be the Benefitfocus Corporate Headquarters and will house the majority of the corporation’s employees and anticipated growth for the next several years. The second, to be named the Daniel Island Executive Center, will have 78,000 square feet and will initially be leased out to commercial and professional tenants. It is anticipated that the second building will also be available for future expansion of Benefitfocus. “Holland stated.

Benefitfocus employs 185 associates nationwide, and expects to add over 200 new high technology jobs over the next two to three years. Sixty-seven percent of Benefitfocus associates have bachelors’ degrees in science and engineering, which is a major growth target of the South Carolina Technology Alliance in its measurement of the state’s technology business environment.

With over 74 percent of its associates employed as high tech engineers or analysts, Benefitfocus both attracts and retains a world-class workforce.

“Creating more technology jobs decreases the drain of talent from our state and increases the per capita income for our citizens,” adds Holland.

Ted Creech, Chairman of the Charleston Regional Development Alliance, welcomed news of Benefitfocus’ expansion in the region. “Five years ago, Benefitfocus chose the Charleston region to build their company. Today’s announcement proves that our area has the right qualities to not only attract and retain world-class talent, but also foster continued growth. We’re extremely pleased that this dynamic company has chosen to remain and grow here. ”

“Wonderful news for Berkeley County,” said Jim Rozier, Chairman of Berkeley County Council. “It’s a tremendous vote of confidence in our region to host such a cutting-edge information technology company as Benefitfocus.”

"Benefitfocus could have chosen to expand their operations anywhere in the country. By choosing to grow in Charleston, they are reinforcing the City’s reputation as a preferred location for knowledge-based companies while also creating high-wage career opportunities for South Carolina graduates,” added Joseph Riley, Mayor of Charleston.

According to company officials, Benefitfocus also considered moving to Research Triangle Park for this expansion. “We needed the new facility to accommodate our expanding workforce. Benefitfocus is adding additional clients at an astonishing rate, and in order to meet their data needs, Benefitfocus has to be able to attract and maintain an extremely talented workforce,” said Holland. “Fortunately, the State of South Carolina was committed to our company and offered incentives comparable to many more technology-rich locations.”

The Charleston Regional Development Alliance represents Berkeley, Charleston and Dorchester counties. Its mission is to broaden and diversify business investment in this region, with a new emphasis on technology-intensive business sectors. Since its inception, the Alliance has worked with thousands of companies to help promote business investment and quality growth in the area. To learn more, go to www.charleston-for-business.com.

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Company Media Contact:
Sarah Moïse
Benefitfocus.com
sarah.moise@benefitfocus.com

Alliance Media Contact:
Karen Kuchenbecker
843-760-4534
karenk@crda.org
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