When Bob Coughlin, CEO of Paycor, started his Ohio company more than 25 years ago, he had a vision that HR and payroll services could be done smarter by leveraging technology. His vision has since turned into a large, fast-growing and innovative HR and payroll solutions company with more than 30,000 customers across all 50 states.
Founded in 1990, Paycor is a trusted partner to small and medium-sized businesses. Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize the management of their most valuable asset —their people.
In early December, Paycor management announced plans to expand in the Cincinnati area. The Ohio Tax Credit Authority approved state incentives for Paycor that will support the company’s plan to make a capital investment of $8 million, retain 731 jobs in Ohio and add an additional 1,064. Paycor estimates the new jobs will have an average salary of $72,000.
The company has demonstrated impressive growth over the past decade, making Cincinnati Business Courier’s Fast 55 list 11 years in a row. The online payroll service company has outgrown its newly constructed, 136,000 square-foot office building in Norwood, Ohio that was completed in April of 2014. Also, in 2015 Paycor acquired a California-based software contributing the the company’s fast growth.
Ted Griffith, managing director for the Information Technology sector at JobsOhio, said the Ohio company reflects a Silicon Valley mindset, which is apparent in the way it managed to redefine HR and payroll services through innovative technology.
“Paycor’s success and work with JobsOhio sends an important message to other entrepreneurs. You can grow and scale here,” Griffith said. “We’re a state of innovation with the talent, collaboration and support you need to grow into a major company.”
“I think Paycor is part of the story of Cincinnati becoming more of a technology hub. There is a lot of entrepreneurial and startup activity here,” said Stacey Browning, president of Paycor.
“JobsOhio has been an amazing partner through this,” Browning said. “We’re proud to be a great success story for Ohio.”