SchoolMint to move corporate headquarters from Silicon Valley to Louisiana, create 178 jobsChristian Fernsby ▼ | July 29, 2020
SchoolMint CEO Bryan MacDonald announced the education software company will consolidate its U.S. operations in Lafayette, Louisiana, including transferring its headquarters from San Francisco.
Acadiana Region Lafayette, Louisiana
Topics: SchoolMint Louisiana jobs
SchoolMint will create 178 new direct jobs with an average annual salary of more than $74,200, plus benefits. Louisiana Economic Development estimates the project will result in another 219 new indirect jobs, for a total of 397 new jobs for Lafayette Parish and the Acadiana Region. The company also is retaining 13 jobs at its existing Lafayette office.
SchoolMint acquired Lafayette-based Smart Choice Technologies in 2019. Company officials said they began to consider consolidating and relocating their U.S. offices to Lafayette as they tapped into the area’s pro-technology and pro business climate, college-to-career pipeline and availability of local talent.
LED and the Lafayette Economic Development Authority began formal discussions about the project with SchoolMint in March 2020. To secure the project, the State of Louisiana offered SchoolMint a competitive incentive package that includes the services of LED FastStart, ranked the No. 1 state workforce training program in the U.S. the past 10 years.
The incentive package includes a $900,000 Digital Interactive Media and Software Development tax credit on qualifying software development and payroll expenses, as well as a $1 million performance-based grant for corporate relocation expenses.
Based upon meeting capital investment and payroll targets, School Mint will be eligible for up to $100,000 a year for 10 years. The company also is expected to utilize Louisiana’s Quality Jobs Program. ■