South Florida Business Journal
Click here for SFBJ article
July 6, 2015
Boca Raton – Avid Technology plans to open an administrative office in Boca Raton and create 100 jobs over three years.
The Burlington, Mass.-based company (NYSE: AVID) develops software and hardware to create media content for feature films, music, television, live concerts and news broadcasts. It posted $530 million in revenue in 2014.
Now the company has committed to a $2.6 million capital investment in a facility in Boca Raton. The location and size of the facility has yet to be disclosed.
“Avid considered national and international locations for this expansion and we’re excited to announce that they selected Florida,” Governor Rick Scott said in a news release.
State officials didn’t disclose whether Avid Technologies received a public incentive package. It worked with Enterprise Florida, the Florida Department of Economic Opportunity, Boca Raton and the Business Development Board of Palm Beach County on the project.
“The Avid team is delighted to be joining Boca Raton’s long heritage of innovation that began as the site where the first IBM personal computer was developed and continues strong today,” said John Frederick, executive VP, CFO and chief administrative officer of Avid. “Establishing this hub for our critical administrative functions in Boca Raton gives Avid access to one of the top growing talent pools in the U.S. and serves as a gateway location to our Latin American customers.”