omaha firm weathers turbulent times with Robust growth strategy

Employee Benefits Administrator
Leverages State Government Programs to Fuel Local Economy

Omaha, Neb., Oct. 10, 2008 - PayFlex Systems USA, Inc., a leading administrator for employee benefit programs, today announced the opening of their new national headquarters at 10802 Farnam Drive in the Old Mill area of Omaha. This facility will house nearly 200 employees, including 65 new positions added in 2008. PayFlex has emerged as a leading national benefit administration company working with many Fortune 500 companies.

“We will miss our long-time home at the Blackstone building after being there for 20 years,” said Mark Huber, President and CEO of PayFlex. “But with the tremendous growth we have experienced over the last several years, we outgrew the building. We found the right spot that will allow us to continue our growth. We plan to add 40 to 60 employees per year and this facility gives us room for expansion. The total investment for the project is $10 million.”

Since 2005, PayFlex has grown their revenue a remarkable 188 percent and has hired more than 150 people as a result. “I am most proud of the 35 jobs we brought back from India to the U.S.,” added Huber. “The productivity of Greater Omaha’s workforce made the case for this business decision. Omaha and Nebraska have been good to us and I am delighted to return the favor.” In their new facility, PayFlex now enjoys over 30,000 square feet of space with an option to utilize an additional 10,000 square feet.

PayFlex received a Nebraska Customized Job Training grant administered by the Nebraska Department of Economic Development in early 2008. This allowed the company to increase their training staff from one part-time employee to five full-time employees. The company has also applied for the Nebraska Advantage tax incentive program designed to reward businesses that invest in the state and increase job opportunities in Nebraska.

Gov. Heineman said, “So far, more than 160 companies have committed to creating new jobs in our state using the Nebraska Advantage. I’m pleased PayFlex Systems is among them and I offer my thanks for the investment this company has made in Nebraska. Our quality workforce and strong business climate have also helped Nebraska compete for projects such as this.”

“The Greater Omaha Chamber of Commerce is proud to have assisted PayFlex in applying for Nebraska Advantage incentives and job training grants. Today’s announcement is great news for PayFlex, the state of Nebraska and Omaha,” said David G. Brown, President and CEO of the Greater Omaha Chamber of Commerce. “Once again, the excellent quality of our workforce and our strong business climate has proven that Omaha is an outstanding place to grow a business.”

“The Department is happy it could partner with the Greater Omaha Chamber of Commerce in offering PayFlex valuable incentives and job training grants that allowed it to expand and build a state-of-the-art national headquarters right here in Nebraska,” said Richard Baier, director of the Nebraska Department of Economic Development. “We’re confident that these jobs are symbolic of what lies ahead for many more businesses and manufacturers in the state for continuing to grow our economy.”

"We are delighted to have a nationally recognized organization such as PayFlex in our backyard," said Mayor Mike Fahey. "With strong management, dedicated employees and quality product, it is not surprising to me that his company is among the fastest growing in the industry."

“Our mission is to become an employer of choice in the Omaha area. Our hard working employees and this new building are the foundation of that mission,” added Huber, “The addition of Latte-n-More as an onsite boutique café for our employees, is one way for PayFlex to give back to those who have helped our company succeed. We likely won’t ever be the biggest employer in Omaha but we are working hard at becoming the best.”

PayFlex (www.payflex.com) is a leading nationwide provider of administration for employer benefit programs with 20 years of experience. PayFlex provides a broad range of services to several thousand employers including many Fortune 500 companies that employ several millions of employees. PayFlex services include FSA, HRA, HSA, Commuter, Dependent Care, along with COBRA and Retirement reimbursement. PayFlex is headquartered in Omaha, NE, with 14 locations nationwide.

For more information, please call Mark Huber, President and CEO, (402) 345-5000.