Tech Company Moves to Reno

Northern Nevada has seen one technology company after another move to the region. The latest to make the move is rfxcel. The company uses software to track products as they move through the supply chain, from the supplier to the retailer, and eventually the shopper.

"It's just another huge win for northern Nevada, for the state, and it really diversifies our portfolio into the technology sector," Gov. Brian Sandoval, R-Nevada said.

The company chose Reno over Seattle, Salt Lake City, Phoenix, Boise and Austin. rfxcel says the Economic Development Authority of Western Nevada (EDAWN) played a large roll in its decision because it connected them with locals, service providers and government officials. Glenn Abood is the Founder and CEO of rfxcel. He says the decision to move the company from its headquarters in San Ramon, California came down to four main factors.

"The quality of life," Abood said. "The proximity to the Bay Area. That was important to us. The university infrastructure here and the fact that it was a more cost-effective area than certainly we were coming from."

Abood says the company will eventually hire about 200 people. Some of the executives are moving with the company but he says most of its employees will be locals. Jobs range from software and technology to sales, finance and operations. He says the average wage will be more than $100,000 per year.

"I think we'll become an employer in the area that people will look to, to say 'I want to work for that company,'" Abood said.

He also expects many of the employees to be recent graduates of the University of Nevada. 

"That's what we all want," Sandoval said. "We all want everybody to go to school here, to live here and raise a family here."

The company tracks serial numbers on products. Most of its business involves pharmaceuticals and medical equipment. Abood says its important to track prescription medications to prevent counterfeit drugs from making it onto the market.

"When you go down to your local drug store to get your prescription filled, the last thing you want to worry about is, is the product genuine or is the product actually going to cause more trouble?" Abood said.

The recent E. coli outbreak is another reason why rfxcel tracks products. Tainted romaine lettuce led to a nationwide recall, affecting farmers who did not have E. coli infested crops. Abood says his technology cannot stop food-born illnesses but it can help pinpoint where the problem is.

"What we can learn very quickly is they all came from let's say a particular farm or a particular growing region," Abood said.

"We'll be able to pinpoint exactly where it came from so you don't shut down an entire region and you get to the source so you can find out what the solution is, sooner," Sandoval said.

Sandoval says as more technology companies move to northern Nevada, many might join forces.

"Blockchain LLC is going to be a huge company right here in northern Nevada, so you're going to see, I think in the future, some partnering of these types of companies that really lead us into this new economy," Sandoval said.

rfxcel signed a five-year lease, showing that the company plans on staying in the area for the long-term. It plans on hiring within the next few months.