Pros: a new graduate might be able to get some experience here
Cons: bench time, reduced pay, lack of modern development processes, technological confusion
You're not actually working at a software development center, you're working at a co-working space; sales sends out your bio to individual clients to hire you as part of a team just like any body shop, but you're sitting in a cubicle in central Wisconsin. You could easily do a better job removing the middle man and marketing yourself just about anywhere – more... if you're an experienced professional.
They have a significant number of people at the CDSC benched, so you may not have much to work on; management says it's going to get better, but it didn't in the three months I was there. They seem to have adopted the offshore model of having a large percentage of your staff sitting around waiting for an engagement, and whether that's going to be successful long-term is an open question in my mind.
There's not a lot in the way of training, career advice, or other such things that are often discussed as part of the hiring process. New hires are typically put through a multi-week training program, but beyond that I haven't seen much evidence of continued investment in the developers. Furthermore, it's difficult to know what would make the most sense to train developers on; in my short time there, calls went out for experience with .NET, Java, PHP, and COBOL, along with a smattering of other technologies, so there's no real focus so long as there's a paying customer involved.
Basic software development practices simply don't exist here on a large scale, and if you haven't worked in a professional development environment you're not going to know what you're missing. No coding standards, no formal code reviews, no common version control system (unless you count Bitbucket), no common issue tracking or project management tool, and a timesheet tracking program that's hosted in the cloud by another company and written in Perl.
It might be a good way to break into the software field if you're a new graduate or otherwise don't have a lot of experience. The benefits are decent, and the pay was acceptable for the area; that said, after moving to the area I found out I'd be making a significant amount more at any of the insurance companies in the area than I did at Collaborative, so don't sell yourself short on compensation just because it's a rural market. I moved here from another state and took a pay cut because I thought I might be able to make a meaningful contribution, but in the end, make sure you look at the economic fundamentals first and foremost. – less