Deal: Chexar Networks to create 500 jobs in Crisp County

October 31, 2011

Banking services provider expanding Georgia operations, investing $1.9 million

Gov. Nathan Deal announced today that Chexar Networks, Inc., a leading provider of financial risk management solutions, is expanding its Georgia operations and opening a risk management center in Cordele in Crisp County. The company will create 500 new jobs at the Cordele facility and invest $1.9 million. Chexar has an existing data center operation in Roswell.
 
“Chexar’s significant expansion in Georgia is an indicator of the company’s commitment to our state,” Deal said. “These 500 jobs will certainly be well received in Crisp County, and throughout the surrounding communities. I am encouraged by Chexar’s expansion and glad to see Georgia’s competitive business resources put to great use.”
 
Chexar provides technology and solutions to enable banks, prepaid providers and other clients to serve the nation’s under-banked population now estimated to be more than 88 million people. The gating factor for these consumers is their need to change all types of checks into cash or “good funds” before they can acquire other services such as paying bills, sending money, topping off prepaid cell phones, and loading prepaid debit cards. Chexar’s new Cordele data center will help support the company’s existing Roswell and Perimeter operations, and support its rapid growth.
 
“We are fortunate because our growth is accelerating in spite of economic headwinds, and we are able to provide much needed jobs to well-deserving citizens,” said Chexar founder and CEO Drew W. Edwards. “In addition to our technology and databases, our human capital is what makes Chexar’s solutions best in class. With the help of the resources and talent that State Bank & Trust, Georgia and Crisp County officials have brought to the table, we are excited to improve the lives of not only our employees but millions of underserved consumers across the nation.”

Chexar will ultimately locate in two 18,000-square-foot existing facilities in Cordele, and expects to be operational with the first facility by January. Crisp County became a Georgia Certified Work Ready Community in 2010 and markets the strength of its workforce among the community’s top economic development assets for potential business citizens.
 
“Cordele-Crisp County is very excited to welcome all of the people associated with Chexar as they will create much needed job opportunities for our citizens,” said Bob Evans, Cordele-Crisp Industrial Development Council board member. “We have enjoyed working with Drew Edwards and John Collins, who have built a company on the leading edge of technology in the financial services industry, and look forward to the company’s expansion in our community.”
 
The Georgia Department of Economic Development (GDEcD) partnered with the Crisp County Industrial Development Council to manage Chexar’s expansion in Georgia. Quick Start, the nation’s No. 1 workforce training program, will assist Chexar in specialized custom training for its new hires at the Cordele operation. Quick Start provides customized training free of charge to qualified new, expanding and existing companies creating jobs in Georgia.

“Georgia works very hard to be sure we remain among the best places for business for data center locations,” said Chris Cummiskey, commissioner of the Georgia Department of Economic Development. “Chexar is one of more than 50 data centers that call Georgia home, and in this 24-7 information culture we live in, it becomes more and more important that we provide the best strategic resources for these companies to meet their customers’ growing needs.”

Georgia has long been regarded as a strategic location for data centers. Nearly 30 colleges and universities in Georgia offer degrees and certificates related to computer and information sciences.

The state also boasts a highly reliable power infrastructure and competitive electric rates, and ranks among the top five U.S. markets for total bandwidth and fiber access. In addition to Georgia’s favorable business climate and low costs of doing business, data centers also locate to Georgia to take advantage of the low risk of business disruption, which ultimately helps them meet their service commitment to customers.

GDEcD regional project manager Candice Scott managed this project on behalf of the state.

About Chexar Networks, Inc.
CHEXAR® is the national leader for technology and solutions to enable clients to cash, deposit or load any check with immediate funds availability. Chexar’s solutions provide clients with the ability to truly serve the nation’s under-banked population now estimated to be almost 100 million people. The gating factor for these consumers is their need to change all types of checks into cash or value before they can acquire other services including bill pay, money transfers or prepaid cards.

Chexar’s solutions enable any business to convert any type and any size of check to cash or to immediate credit onto prepaid cards or as fee-based deposits into bank accounts. The company’s one-of-a-kind solutions combine multiple national databases, rules engines, and proprietary technology with redundant 24/7 risk management centers to achieve the industry’s highest automated and overall approval rates on any check. Chexar’s solutions are deployed across multiple platforms including turnkey point of sale solutions, assisted and self-service kiosk solutions, and full XML integrations. For more information, please visit www.chexar.com.