2017-05-06 / State/Regional

Portland property to be headquarters for tech company


PORTLAND (AP) — A Maine payment processing company is planning to move its global headquarters to Portland's downtown waterfront area.

South Portland's Wex Inc. has partnered with developer Jonathan Cohen to construct the building. Cohen has placed a bid on a lot owned by the city.

Wex's proposed headquarters will be a four-story complex that includes retail space and a parking lot.

The company says the new headquarters would employ at least 450 employees and grow over time.

Wex President and CEO Melissa Smith says that moving its headquarters to Portland will improve the city and help the company with recruiting.

Partners Atlantic Bayside and Jackrabbit have also placed a bid on the land. The team proposed a mixed-use complex.

A decision is scheduled for June.

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