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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 what you stated is true, then this article is entirely inaccurate. "State sells bonds" is same as "State borrows money". Supposedly the company will "pay for them". But since we are paying the company, we are still paying for this road with borrowed money, even though the state has $2 billion in the bank.

  2. Andrew hit the nail on the head. AMTRAK provides terrible service and that is why the state has found a contractor to improve the service. More trips, on-time performance, better times, cleanliness and adequate or better restrooms. WI-FI and food service will also be provided. Transit from outlying areas will also be provided. I wouldn't take it the way it is but with the above services and marketing of the service,ridership will improve and more folks will explore Indy and may even want to move here.

  3. They could take the property using eminent domain and save money by not paying the church or building a soccer field and a new driveway. Ctrwd has monthly meetings open to all customers of the district. The meetings are listed and if the customers really cared that much they would show. Ctrwd works hard in every way they can to make sure the customer is put first. Overflows damage the surrounding environment and cost a lot of money every year. There have been many upgrades done through the years to help not send flow to Carmel. Even with the upgrades ctrwd cannot always keep up. I understand how a storage tank could be an eye sore, but has anyone thought to look at other lift stations or storage tanks. Most lift stations are right in the middle of neighborhoods. Some close to schools and soccer fields, and some right in back yards, or at least next to a back yard. We all have to work together to come up with a proper solution. The proposed solution by ctrwd is the best one offered so far.

  4. Fox has comments from several people that seem to have some inside information. I would refer to their website. Changed my whole opionion of this story.

  5. This place is great! I'm piggy backing and saying the Cobb salad is great. But the ribs are awesome. $6.49 for ribs and 2 sides?! They're delicious. If you work downtown, head over there.

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