Next IT Corp., the Spokane-based natural language software company, says it plans to move later this year into a building that’s being constructed in the Pinecroft Business Park, in Spokane Valley.

The company, founded in 2002 by veteran Spokane entrepreneur Fred Brown, currently is located in smaller quarters in the Paulsen Building, at 421 W. Riverside, in downtown Spokane.

The company, which employs 160 people here, plans to move to the new building, to be located at 12809 E. Mirabeau Parkway, next fall. A building permit issued by the city of Spokane Valley puts the project’s value at $1.76 million and says the structure will have about 44,000 square feet of floor space.

Brown said in a press release, “We see this as a credit to Spokane’s tech industry growth. Our new building facilitates our increasing need for space while making it easier for teams to meet and share ideas.”

Divcon Inc., of Spokane Valley, is the contractor on the project.

The 94-acre Pinecroft Business Park currently has building with a total of about 345,000 square feet of space.