CommVault move could add 1,500 new jobs

TINTON FALLS – Near the intersection of Hope Road and Tinton Avenue, on a 55-acre property that was once home to a section of the former Fort Monmouth military base, construction is proceeding at a rapid pace on the building that, when complete, will house the worldwide corporate headquarters of CommVault Systems Inc.

CommVault, currently located in Oceanport, is a software and service company focused on data management and protection. The current building under construction will house 275,000 square feet of space when complete. Phase 1 is expected to be completed in the fall, with the company moving in soon after. Phases 2 and 3 buildings eventually will see additional space added, bringing the total to 650,000 square feet of high-tech office and other space.

CommVault employs approximately 500 people at its Oceanport headquarters. It is estimated that once all three phases are completed, CommVault could add as many as 1,500 additional jobs.

In the short term, the company is bound by an agreement with the Fort Monmouth Economic Revitalization Authority (FMERA) to create at least 250 new jobs in the state within three years of moving to its new home. If CommVault fails to create those jobs, it will face a penalty of $3,000 for every job not created.

Even though the company’s move is a major loss to Oceanport — which along with Eatontown and Tinton Falls were Fort Monmouth’s host communities — CommVault’s agreement in January 2013 to construct its headquarters on the former base property was considered a major step forward in FMERA’s goal of creating new jobs as part of its ongoing efforts to develop the site.

Mayor Gerald Turning Jr. said he ispleased that CommVault chose to relocate to Tinton Falls.

The borough previously approved a PILOT (Payment In Lieu Of Taxes) agreement for the company, in which CommVault will pay $302,000 to the borough in the first year and progressively higher amounts that over a period of 18 years.