Global technology company Square opened its office complex in Cortex Innovation Community, an innovation hub for development, tech and bioscience research, with plans to create 200 new jobs over the next five years in St. Louis, Missouri.

“Square’s decision to create 200 jobs in St. Louis is a huge win for the region and our state,” said Governor Jay Nixon. “As a high-tech company with a global reach, Square’s growing presence in St. Louis further strengthens Missouri’s position as a hub for next-generation jobs and innovation.”

Square is a startup founded in 2009 by St. Louis natives Jack Dorsey, who also co-founded Twitter, and Jim McKelvey. The payments company creates technology that helps sellers of all sizes unlock the value of every sale. Square’s register service is a full point-of-sale with tools for every part of running a business, from accepting credit cards and tracking inventory, to real-time analytics and invoicing. The company plans to hire 40 new full-time employees immediately with positions spanning multiple job functions including customer support, recruiting, and office management.

“As a St. Louis-born company, we are thrilled that Square will soon begin operations from a new Midwest hub, giving it a central location to grow its product and bring new jobs to St. Louis,” said Mayor Francis Slay. “The explosion of our startup and technology scene in St. Louis helped us compete to win this project. I want to thank St. Louisans Jack Dorsey and Jim McKelvey for their continued commitment to our hometown.”

The Missouri Department of Economic Development has offered to assist Square with its expansion through a strategic economic incentive package available to Square if it meets strict job creation and investment criteria. The Missouri Partnership, the City of St. Louis, the St. Louis Economic Development Partnership, and Cortex also assisted with this project.