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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. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

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