A New York City-based software company specializing in legal information and services is opening an office in Milwaukee's 3rd Ward where it hopes to create as many as 75 new jobs over the next three years.
The Wisconsin Economic Development Corp. announced the news about The Expert Institute on Monday, adding the state agency is supporting the move with a $500,000 state income tax grant.
The grant money Expert Institute will receive is contingent on the number of jobs created and the capital investment from the company during that period. Expert Institute will use its Milwaukee office, at 320 E. Buffalo St., as a hub for its researchers and software development teams. WEDC projects the new office could indirectly generate 56 additional jobs, resulting in 131 total new jobs for the region that would have an annual state income tax impact of more than $267,000.
“Wisconsin is nationally recognized as the premier innovation and tech hub in the Midwest,” said Missy Hughes, Wisconsin Economic Development Corp. secretary and CEO, in a statement. “Expert Institute is a great fit for the creative ecosystem so many businesses are building in our state.”
Founded in 2011, Expert Institute developed an online platform that connects law firms with expert witness candidates. The company has more than 140 employees nationwide with an additional office in Los Angeles.
“We found a very natural fit in Milwaukee, particularly in the entrepreneurial bustle of the Third Ward district,” said Michael Talve, Expert Institute’s CEO and managing director, in a statement. “This, coupled with the immense amount of talent coming from the UW System and other Wisconsin-based colleges, made this move an easy choice. We’re thrilled to continue building our team here.”
Expert Institute became a portfolio company of San Francisco-based private equity firm Spectrum Equity in 2018. Terms of that deal were not disclosed. Jim Emling, the former president of Wauwatosa-based insurance tech company Zywave, is a senior adviser to Spectrum Equity and board member at Expert Institute.
Milwaukee 7, the regional economic development organization, also worked to attract Expert Institute to Wisconsin, according to the announcement.
“Expert Institute is precisely the kind of company we want in southeastern Wisconsin,” said Jim Paetsch, vice president at Milwaukee 7. “The company’s decision to locate here is yet another affirmation of our ability to compete for investment from companies that require highly educated and motivated technical workers.”