Netchex said it will expand its Mandeville headquarters in a move that will create 240 new jobs over 10 years.

Netchex currently has 86 employees in Mandeville.

Louisiana Economic Development said the new jobs will have an average salary of $43,800, plus benefits.

The company, which was founded in Mandeville in 2003, provides Web-based payroll, human resources and benefits services in the South. Netchex has offices in Dallas, Atlanta and Jackson, Mississippi, and has an overall workforce of nearly 120.

“As we looked at our growth trajectory, it was clear that we needed a larger footprint physically to support our efforts,” said Will Boudreaux, Netchex co-founder and CEO. “The expansion plan includes migrating to a facility to absorb our growth, better manage our business and be reflective of the strong brand we have built. Additionally, this expansion plan serves as a real beacon to promote quality jobs here in St. Tammany Parish.”

Boudreaux and co-founder Stuart Ethridge had previous executive experience in the payroll industry for publicly traded firms before they established Netchex.

Netchex is currently leasing 12,000 square feet in a building at 1100 N. Causeway Blvd. In early 2016, Netchex will move into 30,000 square feet of leased office space at a location in Mandeville. Company officials said no lease has been signed yet for the property, so they would not give a specific location. The plan is to lease the space for two years, then Netchex will determine if it wants to extend the lease and possibly take up more space in the property or build a new headquarters at a different location.

Hiring for the new positions has begun.

Though Netchex has additional office locations in the South, Louisiana won a site selection competition with other states, including locations in Texas and Florida, LED said.

“Netchex has fostered strong relationships in Mandeville, and their desire to expand locally is a testament to the vitality of our local economy,” said Mandeville Mayor Donald Villere.

LED began discussing expansion plans with Netchex in January. To secure the headquarters expansion, the state offered an incentive package that includes the services of LED’s FastStart job-training program. The company will participate in the state’s Digital Interactive Media and Software Development Incentive program and is expected to use the state’s Quality Jobs Program.

Follow Timothy Boone on Twitter, @TCB_TheAdvocate.