Saggezza Inc. to Add 50 Jobs, Invest $5 Million in Chicago Global Headquarters
CHICAGO, IL â€“ Governor Pat Quinnâ€™s Administration today announced the expansion of Saggezza Inc.â€”a Chicago-based technology solutions company. Saggezza will invest $5 million to expand its global headquarters at 200 W. Madison St. in Chicago. The investment will allow the eight-year-old company to expand its space by 13,500 square feet and hire 50 new employees.
â€œIllinoisâ€™ strong, technology-driven business culture is leading our economic comeback,â€ Governor Quinn said. â€œCompanies like Saggezza know there is no better place to grow their business. By expanding in Illinois, Saggezza further solidifies Illinois as a leader in technological innovation.â€
â€œSaggezza has enjoyed significant growth in the last year and we are thrilled to expand our operations in the State of Illinois,â€ Saggezza COO Socka Suppiah said. â€œThe state offers access to excellent software skills and connectivity that enables Saggezza to support our customers globally. We look forward to providing our customers with insightful solutions to shape the future of their business.â€
Saggezzaâ€™s services range from software-based custom digital solutions to systems integration that help clients analyze and use their customer data. The firm serves a diverse group of industries including healthcare, education and retail, with some customers in the Fortune 500. It currently employs 124 people in the U.S., including 106 people at its headquarters in Illinois.
Saggezzaâ€™s growth plans make it eligible for a tax credit under the state Economic Development for a Growing Economy, or EDGE program. Administered by the Illinois Department of Commerce and Economic Opportunity (DCEO), the credit against the companyâ€™s state income tax liability is worth an estimated $1.8 million over 10 years. To receive the credit, Saggezza must create 50 jobs in Chicago during the next two years, retain its total of existing jobs there and spend at least $5 million on its expansion.
The company considered relocating to Wisconsin. EDGE credits are available only to companies that show a viable option for investing in another state.
â€œWe are excited to help Saggezza expand its corporate headquarters,â€ Director of DCEO Adam Pollet said. â€œThe companyâ€™s expansion will allow it to take advantage of Chicagoâ€™s thriving technology marketplace and through its job creation, drive the Illinois economy forward.â€
DCEO also will provide Saggezza a $32,500 job training investment that will help the company stay competitive as new technologies emerge.
Saggezza has offices in California as well as in Europe and Asia Pacific. It recently hosted the National Retail Federation Retail Technology Leadership Summit in Palos Verdes, CA and participated last June at Chicagoâ€™s most recent Techweek.