InQuest Technologies Announces Corporate Relocation to Rhode Island
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July 28, 2008 | Print this page | Share This | Email this page
Bolstered by support from RIEDC finance program, company poised to bring 50 jobs to Rhode Island
InQuest Technologies, the developer of IQ9, the leading platform for delivering web-based enterprise business applications, today announced that the company will relocate its headquarters from Southborough, Massachusetts to Providence, Rhode Island in September 2008. InQuest will relocate approximately 20 employees when doors at the new office open this fall with plans to hire aggressively and grow this location to 50 employees.
InQuest worked with the Rhode Island Economic Development Corporation (RIEDC) to establish new headquarters in Rhode Island and secure financing to support the company’s expansion. InQuest has been approved for a $750,000 loan from the RIEDC’s Small Business Loan Fund to expand operations in Rhode Island and create an additional 30 high wage jobs over the next year. InQuest’s participation in the SBLF program is a good example of how RIEDC has repositioned its finance programs to supply growth capital to globally competitive companies in target, high-wage industries and in alignment with the agency’s economic growth plan.
"InQuest Technologies is excited to make the move to Rhode Island and take advantage of the area’s strong talent pool, highly regarded academic institutions and vibrant information technology and digital media community," said Michael Colapietro, Co-Founder and CEO, InQuest Technologies. “The Rhode Island Economic Development Corporation was a supportive and committed partner in our planning process and we are grateful for the warm welcome our company has received. We are confident that our move to Rhode Island will be an important milestone in our company’s growth and a central ingredient to our future success.”
In spring of 2008, RIEDC accelerated its new business attraction effort with a regional attraction campaign to identify expansion and relocation opportunities within the financial services, information technology and digital media, and health and life sciences sectors. Plans for the campaign were announced in RIEDC’s 2008 Economic Growth Plan.
“InQuest Technologies’ relocation to Rhode Island is a great win for our state. This is exactly the kind of activity Rhode Island needs to stimulate growth and create more high-wage jobs for our citizens,” said RIEDC Executive Director Saul Kaplan. “InQuest is a strong company with solid leadership and good prospects for growth. Rhode Island has a great foundation to build upon in the information technology and digital media sector and InQuest will make a great addition to this growing sector of our economy.”
InQuest’s relocation to Rhode Island is another win for the state’s information technology and digital media sector, which has been bolstered by several initiatives aimed at supporting activity in info-the and digital media-related industries, such as the Providence Geeks and RIEDC’s RI Nexus program. The American Electronics Association's 2008 Cybercities report recently ranked the Providence metropolitan area as one of the nation's top cities in several areas measuring the technology industry. The Providence area ranked number two for proportional change in high-tech wages, reflecting a 15 percent increase from 2001 to 2006. The region was number six on a dollar basis for high-tech wages.
InQuest offers its clients a host of professional services geared toward business solutions such as project management, implementation, as well as a suite of training services. Inquest already has a number of important customers in Rhode Island, including the U.S. Navy, Verizon and National Grid.
InQuest will open its new offices at 300 West Exchange Street in Providence.
More About Inquest Technologies
InQuest Technologies is the developer of IQ9, the leading platform for delivering web-based enterprise business applications with collaboration, project management, business process management, asset management or document management capabilities. With IQ9, business users and IT professionals are able to choose from a library of world-class applications called SmartApps, or configure their own applications to solve their most challenging business problems.
Leading international organizations such as ADT, Verizon, National Grid, ConEdison and the U.S. Navy have already chosen InQuest solutions to streamline their information and improve their businesses.
For additional information on InQuest Technologies and how IQ9 can help you manage your information across projects, processes and organizational boundaries, visit www.inquesttechnologies.com or call 888-254-4050.
