Office of the Premier
Robotics company to create up to 30 jobs in Fredericton27 July 2018
FREDERICTON (GNB) – Lateetud Inc., a company in the robotic process automation sector, is opening an office in Fredericton and creating up to 30 jobs over the next four years.
“Creating job opportunities in emerging industries is at the heart of your government’s multi-year economic growth plan,” said Premier Brian Gallant. “Having an award-winning international robotics company like Lateetud choose Fredericton as a location is more evidence that New Brunswickers are working hard to have our province recognized around the globe as a hub.”
Lateetud implements robotic process automation using “software robots” and extends their capabilities to include machine learning, optical character recognition, text analytics, business process management, document management, and artificial intelligence. The company will hire software developers, designers, a sales and support team and a general manager.
“Lateetud is proud to be joining the long list of cutting-edge companies that have chosen to make their home in New Brunswick,” said Pawan Jadhav, company CEO. “As we take the next steps in our growth, it is good to know we will have a presence in one of North America’s leading technology hubs. We would like to thank Opportunities NB and the provincial government for being strong partners and for their warm welcome as we open our new office in Fredericton.”
Opportunities NB estimates that creating up to 30 jobs would contribute $7.4 million in direct GDP for the province over four years and would generate $510,000 in provincial income taxes over the same period.
To support the creation of these jobs, the company is eligible for an investment of up to $375,000 from Opportunities NB, which is a Crown corporation that works to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across New Brunswick.
The investment will be in the form of payroll rebates, which are performance based and only given to a company once it has met criteria set out in its agreement with Opportunities NB. Lateetud will receive a payroll rebate annually, based on the percentage of the salary of every job filled that meets the conditions outlined in the agreement.
Headquartered in Washington D.C., with offices in India, Lateetud was recently recognized by Blue Prism Software with their Best Client Value Award, and was one among five global companies to be nominated for the Top Innovator award in 2018.27-07-18