McKinney TX has been able to continue to support Innovation-thinking technology companies and supporting business relocation, growth, and expansion by providing a broad spectrum of financial assistance programs, business development efforts, and related quality-of-life endeavors for companies of every size. In this particular case, through the MEDC’s Innovation Fund Grant given to EnginSoft USA.
EnginSoft USA an engineering company in the field of Computer Aided Engineering (CAE) recently announced it would be expanding its USA headquarters in McKinney. Driving the growth is the increasingly complex mechanical engineering work they do for some of the largest companies in America including NASA, Xerox, US Army, Toyota and Exxon and others. The USA expansion includes creating up to 20 new, highly specialized software engineering jobs over the next three years, bringing their total number of McKinney based employees to 23, with an average salary of $90,000.
“McKinney has been a great place for us to grow our business,” said Chris Wilkes, CEO of EnginSoft USA. “The expansion of our US headquarters has a lot to do with the local market and the Innovation Fund grant was confirmation for us to continue scaling our business in McKinney. With our recent acquisition and organic growth we are projecting rapid growth in our McKinney offices.”
The company recently received a grant from McKinney Economic Development Corporation’s (MEDC) Innovation Fund launched in January. The fund will help the software and services company with their expansion goals.
Wilkes, who is also the Chairman of the North Texas Angel Network (NTAN) said “The focus of the fund has a lot of practical uses for startup scalability as well as for more established companies like ours. I can see a variety of applications for established revenue model companies and ones that are fundraising”.
MEDC’s Innovation Fund was created to spur and accelerate the growth of innovation-focused companies at various levels of revenue and funding stages during the startup life cycle. It’s designed to grow with the company as it scales, supplementing growth during the timeliest need in the startup lifecycle, seed or few customers, to Series A and or a more extensive customer base.
“It’s incredible to see the positive response to our fund during this pandemic and to also demonstrate growth,” – said Danny Chavez, Senior Vice President at MEDC. “Working with Chris and receiving his positive feedback as an experienced investor, CEO and entrepreneur has been great and is a testament to the fund’s viability. Working with EnginSoft has been mutually beneficial and we look forward to them expanding in McKinney”.
EnginSoft will be expanding their headquarters in Adriatica. Adriatica is a mixed-used development in McKinney that embodies a quaint European village right in the heart of McKinney, Texas.