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Security firm's job-creation plans draw state incentives

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Allegion PLC’s plans to add employees at its North American headquarters in Carmel could earn the global security firm as much as $2 million in tax credits from the Indiana Economic Development Corp.

The company, newly spun off from Irish industrial conglomerate Ingersoll Rand PLC, promised to create as many as 100 jobs during 2014. The tax credits will be awarded only if workers are hired, the IEDC said.

Central Indiana already is home base for about 1,000 Allegion employees—split between its 12,000-square-foot corporate center in Carmel and a 380,000-square foot manufacturing facility on Indianapolis’ east side. Its global headquarters is in Dublin, Ireland.

Dozens of workers looked on Wednesday morning as CEO Dave Petratis unveiled a new Allegion sign atop the corporate headquarters building just east of U.S. 31 in Carmel. IBJ reported the spinoff plans in July and the company's expansion plans Dec. 2.

As a stand-alone corporation, Allegion forecasts $2 billion in annual revenue and market value of $4.2 billion, which puts the company in league with some of Indiana’s largest companies, such as Allison Transmission, Steel Dynamics and Vectren Corp.

Allegion shares were down 35 cents Wednesday morning, to $42.21 each.

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  • 2 million that's it
    Someone should let them know of they have a fundraiser for Scott Fadness he will probably give them 2 million cash and tell Fishers tax payers its good for down town Fishers.
  • But I do like to whine...
    That's just not fair! Aren't there any tax credits for me as I sit on my couch watching Jerry Springer getting ready to go to my part-time job at McDonald's?
  • Robin Hood
    Tax the poor...give to the rich. Its the Hoosier way

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  1. "bike lanes, specialized lighting, decorative signage, public art, grass medians, trees and rain gardens" These are all nice things to have, but can we freaking get the hundreds of potholes all over the city fixed first?!?!?!!?!?!

  2. When a criminal with multiple prior convictions serves five days of a one year sentence and later kills a police officer with a weapon illegally in his posession, residents of Boone County need to pay a tax to drive to work... PERFECT Progressive logic.. If, on the other hand, a fund were to be set up to build more prisons and hire more guards to keep the known criminals off the streets, I'd be the first to contribute.

  3. Not a word about how much the taxpayers will be ripped off on this deal. Crime spirals out of control and the the social problems that cause it go unheeded by an administration that does not give a rats behind about the welfare of our citizens. There is no money for police or plowing snow (remember last winter) or or or or, but spend on a sports complex, and the cash flows out of the taxpayers pockets. This city is SICK

  4. Sounds like a competitor just wanted to cause a problem. I would think as long as they are not "selling" the alcohol to the residents it is no different than if I serve wine to dinner guests. With all the violent crime happening I would think they should turn their attention to real criminals. Let these older residents enjoy what pleasures they can. Then again those boozed up residents may pose a danger to society.

  5. Where did the money go from the 2007 Income tax increase for public safety that the Mayor used to stir opposition and win the election and then failed to repeal (although he promised he would when he was running for election)? Where did the money go from the water utility sale? Where did the money go from the parking meter deal? Why does the money have all these funds for TIF deals and redevelopment of Mass avenue, and subsidy for luxury high rises, parking garages in Broad Ripple, and granola chain grocery stores but can not find the money to take care of public safety. Commuters shouldn't have to pay the tax of failed leadership in Marion County by leaders that commuters have no say in electing. Taxation without representation.

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