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BREAKING: Backhaul Direct plans expansion, 325 new jobs

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Indianapolis logistics firm Backhaul Direct LLC will invest $1.7 million to grow its downtown operation, adding nearly 325 new jobs over the next four years.

State officials announced the expansion plans Thursday morning.

Indiana Economic Development Corp. offered the company as much as $2 million in performance-based tax credits and up to $75,000 in training grants based on the job-creation plans. The city will consider an additional property tax abatement at the request of Develop Indy.

Backhaul Direct now employs about 70 at its 1 Virginia Ave. headquarters, where it intends to lease additional space.

It ranked 13th last year on IBJ’s list of fastest-growing private companies, reporting revenue of more than $18.9 million in 2009, up from $9.4 million in 2007.

Founded in 2004, the company manages transportation and distribution of freight across the United States and overseas—connecting customers who have products to ship with carriers that can deliver it. In 2009, the firm launched BD Managed Services, a subsidiary that manages IT and telecommunications services for companies in the logistics industry.

The company said it will begin hiring customer service, information technology, sales and management positions immediately.

"Backhaul Direct chose to remain in Indiana because of the strong support and commitment from the state of Indiana and city of Indianapolis," Chief Operating Officer Nick Hoagland said in a prepared statement. "Over the past six years, our business has seen tremendous growth because of our great Hoosier work force and the advantages and cost savings that Indianapolis and Indiana have to offer."

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  • ??
    It would be nice if it would pay its vendors on time- I am currently sitting on an invoice for around $500 and it is currently at 55 days. Nice write up but maybe the money would be better spent with someone that is at least current with there obligations.
  • HR Executive
    It would be nice, if one of the missions of IBJ, would be to provide that performance based evidence, the public economic benefit data, as captured from the sports and corporate state cash, incentives and infusions! I mean they have the talent their, and the objectivity, Thundermutt raises the right questions, but is that factual?
  • Really Really
    Unfortunately, you assume a lot! It's a great risk when the city invest funds with companies. Usually, companies have low retention rates (after benefits - stats go both ways), but at least its performance based, which is seriously needs to be reemphasized for Mr. Jim there. PERFORMANCE BASED something the libraries can't say, educatiion - heck no for more reasons than I care to write right now, and Police are you serious. 2010 was a disgrace for them and the good ol' boys walked scott free.
  • Really?
    How much income and sales tax do you think is generated by 325 employees making an average of $50,000 each? Those taxes pay for schools, libraries, police, fire, and infrastructure.

    Answer:
    State income tax, around $450K/yr
    City income tax, around $200K/yr
    Sales taxes, around $500K/yr

    Total over $1 million/year.
  • Corporate Welfare
    While we give away 2 million dollars to another company as corporate welfare, with promises of tax abatements, the city is underfunding its schools, libraries, police, fire, and infrastructure.
    Ans when the company has grown, and then decides that unless they continue to receive more incentives, they will move their operations to another location, or even out of the country.

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