ST. PETERSBURG — CrossBorder Solutions has relocated its corporate headquarters to a St. Petersburg business park from New York, in one of the largest and most significant shifts to the region in the past five years.
As part of the move, the company intends to hire roughly 300 new workers from within the Tampa Bay area within the next 12 months, according to the St. Petersburg Area Economic Development Corp. (EDC). Most of the new positions will be focused on sales and development.
“Our decision to relocate our corporate headquarters represents a significant milestone for our fast-growing company,” says Don Scherer, CrossBorder Solutions’ founder and CEO, in the statement.
“Despite the challenges brought on by COVID-19, we felt it was imperative to bring together our growing sales and software-development teams in a truly meaningful and collaborative way. The move enables us to continue to provide industry-leading solutions and products to our clients, while also hiring additional talent that will further drive innovation.”
CrossBorder Solutions’ new headquarters is located within the Baypoint Commerce Center, at 805 Executive Center Drive West. The technology-driven company was re-established under its founding management team in 2017 in Tarrytown, N.Y., following a sale of the firm to Thomson Reuters, according to the company’s website.
In opening the new headquarters in the 90,000-square-foot Baypoint building, CrossBorder Solutions has implemented daily, on-site COVID-19 rapid testing and thermography technology to screen employees for their safety and comfort.
CrossBorder Solutions becomes the second large corporate relocation to the Tampa Bay area this year. Last month, pharmaceutical giant Pfizer Inc. announced plans to open a corporate services division within the Heights Union project in Tampa.
CrossBorder Solutions’ move also comes as more technology-related companies are flocking to and expanding in the St. Petersburg area. Between 2016 and 2020, despite the COVID-19 pandemic, data analytics firms such as CrossBorder Solutions have grown by nearly 40% during that same period, according to the St. Petersburg Area EDC.
“We have seen a significant influx of technology companies moving to the Sunshine City,” says St. Petersburg Mayor Rick Kriseman in the statement.
“This isn't an accident. Our Grow Smarter strategy is working. It is essential that we continue to attract companies like CrossBorder Solutions that reinforce our commitment to the technology ecosystem here in St. Pete.”
J.P. DuBuque, president and CEO of the St. Petersburg EDC, agrees that the move reflects the area’s strength as a technology hub.
At least some of CrossBorder Solutions’ growth has been made possible by a $70 million capital infusion from a pair of private equity firms, Insight Venture Partners and Savant Growth Partners. CrossBorder Solutions has differentiated itself by employing artificial intelligence technology for corporate tax departments that help multinational companies comply with worldwide tax regulations more accurately and cost effectively.
In addition to its new St. Petersburg headquarters, CrossBorder Solutions also maintains offices in New York, Houston, London, the Netherlands, Germany and Argentina.