New Financial Technology Company Opens in Huntington

10.30.16
Fred Pace at The Huntington Herald

HUNTINGTON, W.Va. (Oct. 30, 2016) – When Debra Stinson and Rebecca Hovemeyer graduated from Marshall University last May with degrees in technology, both thought they would have to leave the region to find employment.

Not long after graduation, both saw an advertisement for jobs in their field with a new full-service financial technology, or fintech, software solutions provider in Huntington called Core10.

Core10 opened just a few weeks ago on the second floor of the old Masonic Temple Building, 1102 River Tower West on Third Avenue in Huntington. The Huntington location will put seasoned technology architects in Nashville, Tennessee, where the company is based, with ambitious young developers in Huntington.

“I was excited to have a place locally to apply for a good application development position,” Stinson said.

Stinson and Hovemeyer both graduated with master’s degrees in health informatics and both have bachelor’s degrees in computer information technology as well.

“We really thought we would have to move out of the region to find employment,” Hovemeyer said.

But that wasn’t necessary. Both were hired by Core10.

“Core10 is a pioneer of the new ‘hereshoring’ business model, in contrast to offshoring, which creates technology jobs in communities and cities in the U.S. that are rich in talent but have lower costs of living or other financial benefits compared to major metropolitan areas,” said Jeff Martin, co-founder and chief executive officer of Core10, who is currently based in Nashville.“While many businesses look to move or contract their technology needs well outside the U.S., hereshoring looks inward, streamlining communication and logistics while keeping jobs and revenue from leaving the country.”

Over the next 18 months, Core10 will hire 30 data analysts, developers and quality assurance engineers in the Huntington area, Martin said. 

Nearby Marshall University is a key resource, with three graduates already employed, and Core10 envisions a long-term relationship with the institution.

Rachel Loudermilk, the third Marshall graduate hired, said she is thankful for the opportunity.

“It’s is awesome to be able to work and stay in Huntington in a job that I really love,” Loudermilk said.

New employees in the Huntington office will work with Core10’s team in Nashville — an outgrowth of IT outsourcing firm Synergy Systems, LLC — to develop financial technology software for customers in the banking and finance, health care, insurance, logistics, and retail sectors, according to Martin.

“I’ve spent the last 15 years connecting technology talent in Nashville with companies that need their skills,” Martin said. “I’m passionate about giving tech talent across the U.S. an opportunity to work on innovative projects while staying in their hometowns and know we can do the same for folks in Huntington with Core10.”

Core10 aims to bring jobs back to the heartland by connecting technology talent located in Nashville and Huntington with the enterprises transforming the $22 billion fintech space on a global scale, Martin added.

Lee Farabaugh, another co-founder and chief operating officer of Core10, said the newHuntington location will host an open house from 4 to 6 p.m. Wednesday, Nov. 2, at its location at 1102 Third Ave., Suite 202, in Huntington.

“Company principals and tech industry heavyweights, including Jim McKelvey, Core10 adviser and co-founder of Square, will be in attendance to commemorate the occasion,” she said.

“Core 10 is doing one of my favorite things: solving multiple problems at once by connecting what’s already there,” McKelvey said. “To start, they know there is a shortage of opportunities for technologists in certain geographic areas. So they’re helping those folks partner with value- focused tech companies that need reliable talent but can’t find it domestically.”

State officials are pleased with Core10’s presence.

“We are very excited about the work Core10 is doing and the diversity they bring to the West Virginia economy,” said Keith Burdette, secretary of Commerce for West Virginia. “We have tremendous talent coming out of West Virginia’s colleges and universities with skills the tech industry needs.Not only do we have the human capital, we have a cost of doing business that’s well below the traditional tech hubs. It’s a winwin.”

“The potential for igniting entrepreneurship and innovation in West Virginia is unprecedented,” said Brad Smith, chairman and CEO, Intuit, and Core10 adviser. “Our state is in the midst of a technology revolution, and is uniquely positioned to capitalize on the opportunity. By tapping into our most precious resource — our creative, values-based and hardworking talent— we are poised to define the next chapter of innovation and growth for West Virginia and beyond.”

Those interested in attending can RSVP at http://info.core10.io/newoffices.

 

Re-posted from the Huntington Herald Dispatch.