20B — February 8 - 21, 2019— Central New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
C entral N ew J ersey
URLINGTON, NJ — When Bur l ing - ton County native New Lumberton facility supports it service provider’s growing employee base Miles Technologies uses NJEDA support to establish permanent Burlington County HQ B us to continue to grow here in Burlington County.”
more committed than ever to providing top-notch informa- tion technology (IT) services for customers, while at the same time creating job op- portunities and educational programs for people interested in a technology career. One year after closing on a TD Bank loan through the New Jersey Economic Development Authority’s (NJEDA’s) Premier Lend- er Program to purchase a 160,000 s/f facility in Lum- berton, Miles Technologies is thriving at its new head- quarters. The company had
outgrown its previous location and decided to make the move to accommodate its rapid growth to more than 200 head- quarters employees. A $5.5 million TD Bank commercial mortgage loan with a $1.5 million NJEDA participation supported the purchase of the office/warehouse property the company now calls home. Miles Technologies’ Lum- berton facility embodies its founder/chief executive of- ficer’s philosophy of having fun and cultivating creativity at work by offering pickle- ball and basketball courts,
ping pong tables, and a fully- stocked break room that seats over 100 people. Employees built their own desks with large, colorful building blocks. “We’ve been fortunate to experience continued growth over the past two decades, including expanding our pres- ence into 11 additional states and Washington, DC, as well as Europe and Asia,” Miles said. “We have seen the value of New Jersey’s ideal location and talented labor pool over the past two decades and are grateful to TD Bank and the NJEDA for helping to position
After completing significant renovations, Miles Technolo- gies formally moved into the property in July and spent the latter half of 2018 provid- ing information technology, digital marketing, software, and web design services to its clients from its new lo- cation. Miles Technologies’ customers represent a wide range of sectors, including the construction and contracting, manufacturing, healthcare and medical, education, en- tertainment, and hospitality industries. Miles Technologies, which currently employs more than 250 people worldwide, has al- ways been committed to creat- ing opportunities for the next generation of innovators. The company provides training not only to current staff, but also to individuals who apply but might not have the skills nec- essary to qualify for a job at Miles Technologies. 50 people per quarter go through the business’s training program and, upon completion, receive certificates that can help them land jobs within the industry. Miles Technologies also offers internships to 10 local college students per year. “Technology businesses like Miles Technologies, which not only provide services to their customers but also create attractive employment and career development oppor- tunities for local residents, are core to Governor Phil Murphy’s vision for making New Jersey the State of Inno- vation,” said Brian Sabina , NJEDA senior VP, Office of Economic Transformation. Through the Premier Lend- er Program, the NJEDA can guarantee or participate in a portion of a Premier Lender’s commercial loans or lines of credit. Businesses can use this financing for fixed assets or term working capital. EDA’s involvement in the transac- tion provides access to lower cost financing for businesses and offers lenders greater flexibility by reducing their overall exposure. The Premier Lender Pro- gram offers loans with up to a $2 million EDA participation or $1.5 million guarantee for fixed assets or term working capital, and up to $750,000 participation or line of credit guarantee.
Chris Miles l a u n c h e d technology- based busi- ne s s s o l u - t i o n s p r o - vider Miles Technolo- g i e s f r om his Shamong
Chris Miles
basement in 1997, he did so with the goal of helping people accomplish more. To- day, Miles is still at the helm of his company and remains
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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