IBJNews

AIT Labs moving headquarters, adding 160 jobs

Back to TopCommentsE-mailPrintBookmark and Share

AIT Laboratories announced Thursday morning that it plans to create as many as 160 jobs by 2014 and move its corporate headquarters to the northwest side.

The Indianapolis-based forensics, clinical and pharmaceutical testing firm plans to invest $74 million to acquire and equip an existing 90,000-square-foot building in Woodland Corporate Park near West 79th Street and Interstate 465.

“AIT continues to be a leader in the life sciences industry, and due to our tremendous growth over the past three years, we have quickly outgrown our current location on the city's southwest side,” company President and CEO Michael A. Evans said in a prepared statement.

AIT also plans to build a toxicology lab adjacent to its new headquarters. Its clients range from law enforcement agencies to physicians.

The Indiana Economic Development Corp. offered AIT up to $1.8 million in performance-based tax credits. The city of Indianapolis and Develop Indy will assist the company's expansion by providing tax increment financing.

The company is on a roll.

AIT in December awarded $1 million in bonus money to employees, which brought their total take in profit sharing in 2009 to an impressive $3 million.

The company began doling out profit-sharing bonuses to its workers in 2007, but that was the first time they received two bonuses in the same year.

Evans gave employees $2 million last June in a surprise mid-year bonus. The following month he transferred full ownership of the company to employees as part of an employee stock ownership plan, or ESOP.

AIT last year added more than 170 employees, bringing its nationwide work force to roughly 365, including 265 at its current Indianapolis headquarters near Indianapolis International Airport in Park Fletcher business park.

The company doubled its sales staff in 2009 and entered more than 15 new markets.

It currently has 475 employees nationwide.

The growth has helped AIT zoom up Inc. magazine's list of the 5,000 fastest-growing private companies.
 
Founded in 1990, the firm ranks 598th, up from 1,466 in 2008. The list, released most recently in August, is based on percentage growth in revenue.
 
According to newsletter Laboratory Economics, AIT posted sales of $34 million in 2008, an improvement from $16 million in 2007. The company last year said revenue should climb another 75 percent, to nearly $60 million, which would mark its sixth consecutive year of double-digit growth.
    


 

ADVERTISEMENT

  • Where are the Jobs?
    Well, instead of moving and adding jobs, they've moved and laid off over 50 people. That's a different headline altogether!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Really, taking someone managing the regulation of Alcohol and making himthe President of an IVY Tech regional campus. Does he have an education background?

  2. Jan, great rant. Now how about you review the report and offer rebuttal of the memo. This might be more conducive to civil discourse than a wild rant with no supporting facts. Perhaps some links to support your assertions would be helpful

  3. I've lived in Indianapolis my whole and been to the track 3 times. Once for a Brickyard, once last year on a practice day for Indy 500, and once when I was a high school student to pick up trash for community service. In the past 11 years, I would say while the IMS is a great venue, there are some upgrades that would show that it's changing with the times, just like the city is. First, take out the bleachers and put in individual seats. Kentucky Motor Speedway has individual seats and they look cool. Fix up the restrooms. Add wi-fi. Like others have suggested, look at bringing in concerts leading up to events. Don't just stick with the country music genre. Pop music would work well too I believe. This will attract more young celebrities to the Indy 500 like the kind that go to the Kentucky Derby. Work with Indy Go to increase the frequency of the bus route to the track during high end events. That way people have other options than worrying about where to park and paying for parking. Then after all of this, look at getting night lights. I think the aforementioned strategies are more necessary than night racing at this point in time.

  4. Talking about congestion ANYWHERE in Indianapolis is absolutely laughable. Sure you may have to wait in 5 minutes of traffic to travel down BR avenue during *peak* times. But that is absolutely nothing compared to actual big cities. Indy is way too suburban to have actual congestion problems. So please, never bring up "congestion" as an excuse to avoid development in Indianapolis. If anything, we could use a little more.

  5. Oh wait. Never mind.

ADVERTISEMENT