Economic Development Agencies and Economic Development Incentives and Tax Abatements and Tax Credits and Job Creation and Government & Economic Development and Economic Development

Indianapolis technology companies pledge 1,500 new jobs

December 11, 2012

Three fast-growing Indianapolis technology companies are planning to grow even faster, creating up to 1,500 jobs collectively over the next half-decade, officials said Tuesday morning.

The pledges came as part of a larger announcement by the Indiana Economic Development Corp., in which nine companies operating in the state said they will add a total of 2,550 jobs by 2018.

— Indianapolis-based Angie’s List Inc., provider of online consumer reviews, said it will nearly double its work force over the next five years by adding 850 jobs and investing about $1 million in its near-east-side campus.

— ExactTarget Inc., an e-mail marketer with about 1,000 employees, plans to invest $55 million in equipment and real estate to expand its Indianapolis operations over the next five years, creating up to 500 jobs by 2018.

— BidPal Inc. said it will invest $3.5 million to expand its existing office space on the north side of the city, adding up to 172 workers by 2017. BidPal uses handheld devices to wirelessly automate auction bidding, donations and payments for fundraising events.

For Angie’s List, the commitment continues the company’s explosive growth. According to the IEDC, the company has grown to 1,000 employees within the past 18 months by adding 500 jobs since just August 2011.

As part of its $1 million expansion, Angie’s List could get up to $7 million in performance-based tax credits and up to $200,000 in training grants based on the company’s job-creation plans, IEDC said.

Shares of publicly traded Angie's List were fetching $10.96 each early Tuesday afternoon, up 43 cents for the day.

IEDC will provide ExactTarget an even bigger incentive package: up to $10 million in performance-based tax credits and up to $200,000 in training grants.

Shares in ExactTarget, which went public this year, fell 20 cents Tuesday morning, to $18 per share.

BidPal, led by longtime local tech executive Scott Webber, is set to receive nearly $2.2 million in performance-based tax credits from IEDC

The city of Indianapolis also will consider additional property tax abatements for BidPal, which currently has 65 employees.

Another Indianapolis company, Mitsubishi Engine North America, said Tuesday that it plans to invest $10.8 million to locate its first turbocharger plant at its Mitsubishi Heavy Industries Climate Control campus in Franklin, creating up to 73 jobs by 2016.

Mitsubishi is in line for state tax credits totaling $600,000 and training grants of $100,000.

Five other companies also made Indiana jobs announcements Tuesday:

— Elkhart-based Atwood Mobile Products said it will spend $5.9 million to consolidate manufacturing operations from Michigan and Tennessee to Indiana and create up to 132 jobs by 2015.

— Knoxville, Tenn.-based Brunswick, a manufacturer of pontoon boats, said it will expand its Fort Wayne operations by creating up to 200 jobs by early 2014.

— Phoenix-based Cafe Valley Inc., a producer of baked goods, said it will create up to 400 jobs in Marion by the end of 2018.

— Phoenix-based Inventure Foods Inc., a marketer and manufacturer of specialty food brands, said it will expand its Bluffton operations and create up to 80 jobs by 2015.

— Moorehead Communications Inc. in Marion, the largest Verizon Wireless retailer in the nation, said it will create up to 145 jobs by 2016.





 

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