Business grows, gets second shot at incentives

With more than 1,000 high-wage jobs already created in Maitland and a new agreement to bring in 400 more, Digital Risk is saying it’s in the city to stay — despite being acquired by a billion-dollar company in India.

Last week, the city of Maitland signed an agreement with Digital Risk, an independent provider of risk, compliance and transaction management solutions, to incentivize the company to add 400 high-wage jobs to its already 1,000-employee strong workforce in the Maitland Center.

“Digital Risk has grown very rapidly and very aggressively,” Maitland Development Director Dick Wells said, introducing the second incentivized funding initiative sought by the company in three years. “…Their business is a good one.”

To learn more about Digital Risk, headquartered in Maitland Center, visit digitalrisk.com

Good enough, he said, to have been acquired by MphasiS, a Hewlett-Packard company, headquartered in Bangalore, India earlier this month. But, determined to keep its presence in Maitland, the company sought to secure a Quick Action Closing Fund (QACF) incentive with the city pending its creation of 400 new jobs in the area.

The Council unanimously agreed to approve the proposal, offering up to $200,000 in incentives to the company over a five-year span in exchange for bringing the new employees to Maitland. Orange County and the state of Florida will cover the remaining $800,000 of the incentivized agreement.

In 2009, the city entered into a Qualified Target Industry program with the company, Digital Risk agreeing to create 240 jobs in the city by 2014. Dick Wells said this QACF will supplement that, as they’ve already made significant headway with the QTI requirements.

C.J. Evans, representative for Digital Risk, said the company plans to rent additional space across from the building in Maitland Center where it operates now to expand to accommodate its growing workforce.

The Council spoke highly of the company’s impact in the city’s businesses community so far, thanking them for their continuing commitment to Maitland.

“We’re delighted to have you in our city, and delighted to have your employees in our city,” Councilman Jeff Flowers said.