Expansion and Hiring and Electric and Employment and Energy & Environment and Utilities

Carmel electric marketer planning expansion

November 16, 2009

Carmel’s ACES Power Marketing LLC plans to invest $6.6 million to expand its West 99th Street headquarters—a move that could allow it to add 40 jobs, the Indiana Economic Development Corp. said early Monday.

ACES—short for Alliance for Cooperative Energy Services— provides risk-management services to more than 45 customers including power cooperatives, municipal utilities, financial institutions, industrial companies, renewable energy developers and independent power producers. It is owned by 17 electric power cooperatives and has 184 employees, including more than 140 in Carmel.

In a prepared statement, Indiana Secretary of Commerce Mitch Roob called the company "a prime example of a technology-based business that will help diversify and grow the Indiana economy, while simultaneously creating high-wage jobs for Hoosiers."

This is the company’s second expansion in two years. In 2007, the company announced plans to create 25 new jobs and invest $4 million in facility improvements.

The IEDC offered the firm up to $680,000 in performance-based tax credits and $118,000 in training grants based on its job creation plans.

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