OnCentive, a leader in the tax credit industry, is opening its new corporate headquarters in downtown Birmingham.

The company, which generated over $25 million in revenue in its first year, chose to expand into the newly renovated 13,000 sq. ft. space at 2127 1st Avenue North to accommodate the company’s expanding product lines and employee count.

According to Bhamwiki, 2127 1st Ave. N was originally the site of Southern and Alabama Baptist newspapers in 1904.

“I am incredibly proud of our team’s accomplishments and the momentum we are building,” said Shannon Scott, OnCentive Co-Founder and CEO. “The opening of our downtown headquarters coincides with the next phase of OnCentive’s growth as we continue to build out new technologies to help our clients and partners increase the profitability and compliance of their businesses.”

OnCentive is Growing Fast

According to a company news release, OnCentive has hired over twenty employees in the last three weeks and plans on recruiting more, as well as relocating some of their remote employees.

With new product launches on the horizon, OnCentive plans on continuing to serve small & mid-sized businesses, offering their clients 100% audit protection and success-based fees. Additionally, they partner with Applicant Tracking System, Onboarding and Payroll companies as well as CPA and accounting firms to offer value-based solutions for both the partner and their clients.

“Birmingham is becoming a hub for tech startups, and we are proud to join this evolving landscape,” said Lindsay Morton, OnCentive Chief Growth Officer. “The new office allows us the space and culture to recruit the top-tier tech talent that our city offers.”

Though technically a startup company, OnCentive’s founders are veterans in the credit industry, offering clients their leadership’s combined 100 years of experience. The company aims to pair its industry expertise with newly developed technologies to bring tax credits and business incentives to previously under-served markets.

Encouraged by the success of Innovation Depot and organizations like Birmingham Bound, more and more startups are locating downtown.