“From our humble beginnings as team of four in a Wellington apartment more than 11 years ago, to a company of more than 1,800 staff globally, we’ve shown what can be achieved from New Zealand,” says Xero founder and chief executive Rod Drury during the opening of the software company’s new headquarters.
“We’ve created a world class facility in Wellington – and our biggest office globally – with more than 650 employees spread over five levels with an internal atrium staircase connecting the floors. The space fosters modern agile working, global collaboration through online tools and allows room for future growth,” says Drury.
He was joined by Finance Minister and MP for Wellington Central Grant Robertson and Wellington Mayor Justin Lester during the event.
The building is in the corner Taranaki and Wakefield Streets. It used to house Manthel Motors and was also a World War II storehouse before being converted to offices in 1990.
Xero chief executive Rod Drury
The space fosters modern agile working, global collaboration through online tools and allows room for future growth
The building’s heritage was respected during the build, says Xero. The team overseeing the project retained the two-level heritage fa?ade and constructed five brand-new storeys within, with a new fa?ade for the top three. The heritage fa?ade is attached to the new structure, which achieves 100 per cent of the new building standard for earthquakes.
Drury worked with property developer The Wellington Company, as well as architects, engineers and designers to restore and modernise the iconic Wellington space.
“Working together, we’re proud to have been able to transform the landmark Manthel Motors building into a unique vertical campus to house our expanding Wellington team – while maintaining the heritage of this special building,” says Drury.
During the opening, Drury also announced the findings of a recent New Zealand Institute of Economic Research (NZIER) economic impact study into Xero’s economic contribution to New Zealand.
Drury said the NZIER analysis shows Xero contributed $30.9 million directly to New Zealand’s GDP in the year ended 31 March 2017 – an increase of 368 per cent since 2013.
“Xero now employs nearly 1000 people in New Zealand, paying $91 million in wages here in 2017, but we are a truly global company as can be evidenced by Xero generating nearly 80 per cent of its global revenue from exports in 2017,” says Drury.
The report says Xero now accounts for 33.4 per cent of computer system design and related services exports ($698million), and 27 per cent of financial and accounting services exports ($863 million).
“As Xero’s growth continues over the next decade, NZIER analysis projects that it will generate an additional $330 million of GDP for the New Zealand economy. This additional economic activity is forecasted to create 570 jobs that otherwise would not have existed, and will generate an extra $115 million of wages across the New Zealand economy,” says Craig Hudson, Xero’s New Zealand country manager.
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