"For five years we've perfected the delivery of outsourced bookkeeping and accounting services," said Stephen King, chief executive and founder. "Now that we have that model defined, we are ready to scale."

With the South Carolina facility serving as the primary location for the professionals who service its clients, Virtual Growth will be creating more than 350 professional-level jobs in Richland County, particularly for accounting, bookkeeping, and IT professionals. The center will open its doors within a few weeks, King noted.

According to King, the company chose South Carolina because it is easy to access via airports in the New York and New Jersey area, the cost of living is much less than New York, and the company hopes to recruit graduates from the University of South Carolina.

Virtual Growth, which provides Web-based outsourced bookkeeping and accounting services to small and mid-size businesses via its flagship product Virtual Accountant, has hired a team of about 20 professionals who have undergone a six-week training program in New York City, the company stated. In the next year, the group will train about 24 team members per month for their new positions in South Carolina.

Virtual Growth, founded in 1995, launched the Web-based version of Virtual Accountant earlier this year. Built with Lawson Insight II Financial software, Virtual Accountant's features include advanced cash flow reports and projections, profit and loss by client, and sales and expense reports. Services include: online bill payment, automatic document imaging, invoicing, payroll recording, time tracking and bank account reconciliations.

-- By Antoinette Alexander

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