A financial technology firm located in Birmingham is set to expand, aiming to create 66 new jobs over the next five years in the area.
SmartWiz leverages advanced artificial intelligence to enhance the efficiency of tax professionals.
This company stands out as one of just 16 IRS-approved tax software providers globally. Interestingly, its founders passed up a $3 million offer to move to Los Angeles.
“SmartWiz’s choice to grow in Birmingham affirms that Alabama has the talent, resources, and supportive business climate that innovative companies require to thrive,” remarked Alabama Secretary of Commerce Ellen McNair.
Currently, SmartWiz employs 10 people at the Innovation Depot in Birmingham.
Founded in 2021 by five students from Auburn University, the company’s straightforward goal—according to CEO Tevin Harrell—is “to provide software to every tax professional in the United States within five years.”
“We’re looking to expand our team here in Alabama with some of the most skilled engineers, sales, and customer support professionals, aiming to build a unicorn tech company right here,” Harrell stated.
The Birmingham Business Alliance (BBA), involved in this initiative, estimates the expansion’s economic impact to be around $9.6 million over the next two decades.
Throughout its journey, the company has received $50,000 in initial seed funding from Alabama Launchpad and an additional $500,000 from the Innovate Alabama Small Business Credit Initiative (SSBCI).
They have also secured backing from Techstars Los Angeles, Google, and musician Pharrell Williams.
Mr. Harrell mentioned that the decision to remain in Birmingham was influenced by the support from Innovation Depot, the local environment, and the overall ease of doing business.
“Human resources represent a significant investment for business owners,” he added. “Thanks to the supportive training assistance from the Birmingham Business Alliance, Jefferson County, the City of Birmingham, and the State of Alabama, we can attract top talent to this area and pave our way toward becoming a billion-dollar company in the next five years.”
The Alabama Department of Commerce is providing tax incentives linked to job creation milestones, while the state workforce development agency, AIDT, is offering services valued at $780,000.
Additionally, the City of Birmingham and Jefferson County are contributing local job creation incentives amounting to $231,000.
