Current News Releases
March 9, 2007
Duck Creek Technologies, fast-growing insurance software firm, announces product development facility in Innovista’s Horizon Center
Representatives from the University of South Carolina and Innovista joined city and county leaders and economic development allies today in announcing Duck Creek Technologies as the first major private sector tenant for Innovista’s Horizon II building.
The addition of Duck Creek Technologies represents another step toward the creation of a truly integrated, urban innovation district that establishes a vibrant, knowledge-based community and attracts the brightest minds and most innovative companies in the world to South Carolina.
University of South Carolina President Dr. Andrew Sorensen and Innovista Executive Director John Parks joined representatives from The Board of Trustees of the University of South Carolina, the Research Campus Foundation, the city of Columbia, Richland County, the South Carolina Research Authority, the Central SC Alliance, the South Carolina Department of Commerce, the Columbia Chamber of Commerce, and EngenuitySC in proudly welcoming Duck Creek Technologies, an insurance software and services company, to Innovista and the heart of Columbia.
Based in Bolivar, Mo., Duck Creek Technologies has become one of the leading providers of product life-cycle management software and services for the insurance industry. The company develops and markets software that enables insurance carriers to rapidly define, develop, deploy, and manage their insurance products and services—for any line of business.
“Today’s announcement sets a new standard for the type of new knowledge-based jobs that can be created in South Carolina and the kind of new knowledge-based companies that will be attracted to Innovista’s integrated live, work, learn and play environment,” said Larry Wilson, chairman of the board for Duck Creek Properties.
“As we compete in the global economy, our ability to attract highly technical knowledge based industry is critical. Today’s announcement is further evidence that our friendly business climate is producing investment and opportunity for South Carolina,” Gov. Mark Sanford said.
South Carolina Commerce Secretary Joe Taylor added, “As we diversify our economy in South Carolina, we continue to see the state’s strengths working to positively enhance those efforts. Today’s announcement is a great step forward in leading the way for this type of industry expansion.”
Duck Creek Technologies will be expanding into Columbia to include a new research, product development and service office facility in the area. The company expects to create a minimum of 200 new high paying jobs with an average salary of $85,000 and plans to occupy the fifth floor of the Horizon II building upon its completion a year from now. In anticipation of continued growth, Duck Creek also has an option on the fourth floor of the Horizon II Building.
With over 200 employees in Bolivar and more than 50 in Farmington, Conn., and a recently added European operation, Duck Creek is a rapidly growing force within the insurance industry. In 2005 and again in 2006, Inc. Magazine recognized Duck Creek as one of the fastest growing private companies in the country.
“With the addition of Duck Creek Technologies to Innovista’s Horizon II building and construction of the buildings that will encompass Innovista, it’s clear that momentum for creating a revolutionary and stimulating innovation district is continuing to grow,” Sorensen said. “Together with the support of the university and the business community, as well as local and state governments, we are well on our way toward realizing the original vision for Innovista and improving the quality of life for all South Carolinians.”
Sorensen recalled that just over two years ago, university representatives stood together with city, county and other economic development leaders to announce a vision for Innovista. “At that time, we stated that our vision for Innovista would be to set the new standard for integrating public and private sector research and researchers within a vibrant, contemporary, urban landscape. Our vision included the creation of a vibrant, knowledge-based community, so that we could attract bright minds and innovative companies to the area in an effort to stimulate economic development and job creation in our state.”
“Today, we stand together again to recognize yet another milestone toward realizing our vision for the urban innovation district,” Sorensen said. “As we continue to attract innovative companies such as Duck Creek to Innovista, we can be certain that our innovation district will stimulate ground-breaking research, join together public and private sector researchers, provide fertile ground for commercial businesses and open up opportunities that local residents have never seen before.”
Sorensen and Wilson said that the addition of Duck Creek Technologies to Columbia further positions the area to become the new headquarters for insurance technology firms. With other insurance software companies already located in Columbia, including CSC and Fiserv--two companies that are divisions of Fortune 500 companies--the addition of Duck Creek Technologies helps Columbia build on its strong insurance market and existing capabilities.
“When combined with Innovista’s new live, work, learn and play concept and a pool of talented professionals, the Columbia area will serve as an attractive location for rapidly growing information technology companies,” Parks said. “We’re honored to have Duck Creek Technologies join us at Innovista’s Horizon II building and look forward to welcoming additional knowledge-based companies in the near future.”
“The university is a catalyst for growth that is gaining momentum,” Wilson said. “This unique environment is attracting companies, world-class faculty and top students. The right ingredients are coming together for the knowledge economy to take off. Duck Creek is a major example.”
From left, Steve Hall and Larry Wilson of Duck Creek, Columbia Mayor Bob Coble, and University President Andrew Sorensen stand with the Horizon Center block behind them.
