Purchase of General Electric Facility Approved by Big Sky Economic Development Board
Bozeman, Mont. (April 13, 2017)—Zoot Enterprises has received approval by the Big Sky Economic Development (BSED) Board for the purchase of the General Electric facility in Billings. The opportunity will allow Zoot to retain a portion of the GE workforce in the community while also making a major expansion into the Billings market.
Located at 3333 Hesper Road, the 40,000 square foot building was built in 2009 by the BSED to recruit GE Capital to Billings. GE signed a lease termination agreement on March 31, 2017 as GE is divesting itself of GE Capital. The BSED has been working to develop a deal that would allow a portion of the GE workforce to remain in Billings.
Zoot plans to hire 25 people at the new Billings location within the next year and sees significant growth potential for the future. Billings native and Zoot Founder and CEO Chris Nelson said, “This is an exciting time for Zoot, we are marrying the software that we are known for developing with GE-trained staff to deliver a top-notch service to our customers – and what could be better than doing so in my home town.”
In order to make the facility work for Zoot, there will be some necessary infrastructure upgrades such as bringing fiber optics to the building. In order to do so, Big Sky Economic Development will utilize its Opportunity Fund for site improvements and will be passing through the building operation and maintenance dollars from GE to Zoot to help with the transition. Nelson estimates that it will take $2.5 million to retrofit the building for the company’s needs.
About Zoot Enterprises
For over 25 years, Zoot Enterprises has been a global provider of advanced origination, acquisition, and decision management solutions. Its customer-centric tools and services enable Zoot’s clients to add value and differentiation, while providing simple, scalable solutions to specific business objectives. A leader in the fintech industry, Zoot’s cloud based secure processing environment delivers millisecond real time decisions accessing hundreds of cutting edge data sources to help reduce risk and increase conversions. The company’s international client base includes major financial institutions, retailers and payment providers. Zoot can be found on social media on Twitter @ZootEnterprises and on Facebook at www.facebook.com/zootenterprises.